Total Pays $800M To Increase Stake In Novatek

Law360, New York (December 9, 2011, 8:35 PM EST) -- French energy company Total SA has paid $800 million to boost its interest in natural gas producer OAO Novatek to more than 14 percent, Total said Friday, the same day Russia's Novatek said it planned to double its production by 2020.

On Friday, Novatek — Russia's largest independent gas producer — announced a corporate strategy for 2012 that included a twofold increase in natural gas production and a threefold increase in so-called liquids production.

The $800 million investment also announced Friday comes as part of an...
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