25 Oct 2017 15:20

Novatek paid Gazprombank 1.6 bln rubles for 51% of Cryogas-Vysotsk

MOSCOW. Oct 25 (Interfax) - Novatek bought a 51% stake in LLC Cryogas-Vysotsk from Gazprombank for 1.583 billion rubles in July 2017, the Russian gas producer said in a report to International Financial Reporting Standards (IFRS).

Gazprombank earlier owned 100% of Cryogas-Vysotsk, which is implementing a project to build the first phase of a medium-sized liquefied natural gas (LNG) plant with total capacity of 660,000 tonnes per year at Russia