Mitsui & Co. Ltd. said it is in talks with Novatek to acquire a stake in the Russian company's Arctic LNG 2 project, the company told the Nikkei. Operations are planned to start in 2022 or 2023 and produce around 19.8 million tons of liquefied natural gas (LNG) a year, the Japanese trading house added.
Mitsui stated it is also looking into investing in other gas projects run by Russian companies, "including the expansion of Sakhalin 2 and a new development off the Baltic coast," according to the report.