Total Ups Stake In Novatek As LNG Project Moves Forward

Law360, New York (June 26, 2013, 2:09 PM EDT) -- A unit of Total SA has increased its equity stake in Russian gas producer OAO Novatek to 16 percent as the two companies move forward with a jointly developed liquefied natural gas project, according to a Wednesday investor filing.

Total E&P Arctic Russia upped its stake in the company from 14 percent, a second increase since first buying shares in 2011 under a joint venture agreement where it also promised certain phased share increases over three years, according to investor documents. The deal comes on the...
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