Saudi Aramco not discussing taking stake in Novatek's Arctic LNG project

[MOSCOW] Saudi Aramco is discussing several investment opportunities with Russian firms but there are no current plans to take a stake in Novatek's liquefied natural gas project, Aramco's chief executive Amin Nasser said on Thursday.

"We are not discussing this at this stage. We are looking at opportunities for working together with the different companies. But what you mention in particular - nothing from Saudi Aramco," Mr Nasser told reporters in Moscow, when asked about the possibility of investing in the Novatek LNG project, known as Arctic LNG-2.

Mr Nasser also said there were no current talks with Russian companies on them taking part in the planned initial public offer of shares in Aramco next year, during which the company aims to sell around 5 per cent of its shares.

REUTERS