Saudi Aramco ends talks to join Novatek\'s Arctic LNG-2 project

Saudi Aramco ends talks to join Novatek's Arctic LNG-2 project

Saudi Aramco was not satisfied with the terms of a potential deal and was also concerned about possible sanction risks from joining the projectREUTERS  |  May 23, 2019, 12:00 IST
Saudi Aramco ends talks to join Novatek's Arctic LNG-2 project New Delhi:

* Saudi Aramco has broken off negotiations with Novatek to join the Russian gas producer's Arctic LNG-2 project, the daily Vedomosti newspaper cited four unidentified sources as saying on Thursday.

* Saudi Aramco was not satisfied with the terms of a potential deal and was also concerned about possible sanction risks from joining the project, Vedomosti quoted a source as saying.

* "There is no deal anymore because Novatek gave it (the stake) to China," another source was quoted as saying.

* Novatek declined to comment for Vedomosti's report. Saudi Aramco did not reply to a Vedomosti request for comment.