Russia interested in Saudi Aramco's partnership in Arctic LNG-2

Russia's Novatek showed interest in Saudi Aramco's potential investment in the Arctic LNG-2 plant, Reuters reported on Thursday, citing the firm’s chief executive officer, Leonid Mikhelson.

Last week, a memorandum on cooperation was inked between the Russian largest non-state natural gas producer and the Saudi giant oil producer in this regard, but no further details were disclosed.

The LNG-2 project aims to start producing liquefied natural gas from 2022-2023.

In November 2017, state-run Saudi Aramco and Russia agreed to explore the possibility of the giant oil producer’s investment in Novatek’s Arctic LNG 2 project, Argaam reported.