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Total Increases its Stake in Novatek to 14.09%
10.12.2011 12:43
Total Increases its Stake in Novatek to 14.09%

French company Total, one of the largest European oil and gas concerns, has acquired 2% interest in Russian company Novatek, the largest independent gas producer in Russia. The sum of the deal made up $ 800 million. This let Total to increase its stake in Novatek to 14.09% , says the official press-release of the French company.

      
Total first claimed about its intention to acquire Novatek shares in March 2011. The French has acquired about 12 % since that time. And now the company has raised its shares in Russian gas producer up to 14.09%.

      
A Novatek share at MICEX (Moscow Interbank Currency Exchange) costs 393 Rubles. The company capitalization makes up about 1.2 bn Rubles (about $ 38 bn).  So 2% shares of Novatek are estimated in the market a bit less than $ 800 million, paid by Total.

      
The French company started to work in Russia in 1991, it was developing Kharyaginskoye field. It is also a Gazprom partner in Shtokman field and Kazmunaygas partner in the Khvalynskoye field in the Caspian Sea.

      


      

www.total.com


      


      

 


      


      

 


      

www.lenta.ru


Author: Irina Fomina

Tags: gas     

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