MOSCOW, October 30. / TASS /. The total cost of 40% in the Arctic LNG-2 natural gas liquefaction plant construction project (10% of which were bought by Chinese CNOOC and CNPC, as well as French Total and a consortium of Japanese companies Mitsui and Jogme) is 675 bln rubles ($10 bln)," Novatek said in a statement on Wednesday.
"The profit from the sale of 10% and 30% of the participation in the Arctic LNG-2 project totals 675 bln rubles," the company stated. "For the three months that ended on September 30, 2019, we recognized a profit from the sale of a 30% interest in Arctic LNG-2 LLC to three new participants (Japanese and Chinese partners) in the amount of 366.39 bln rubles before income tax. As a result of these transactions, the group’s share in Arctic LNG-2 decreased to 60%," Novatek said in its IFRS report.