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Baker Botts Acts for PAO Novatek on the 10% Sale in Arctic LNG 2 to Total

Media Alert

MOSCOW and LONDON, March 5, 2019 – A cross border team of Global Projects lawyers at Baker Botts, a leading international law firm, has acted for PAO Novatek (“Novatek”), one of the largest independent natural gas producers in Russia, on the sale of a 10% participation interest in the Arctic LNG 2 project. The transaction signed on 4 March and will close by the end of the first quarter of 2019.

The Arctic LNG 2 project envisages constructing three LNG trains, each with a capacity of approximately 6.6 million tons per annum, using gravity-based structure (GBS) platforms. The Project is based on the hydrocarbon resources of the Utrenneye field. Novatek estimates total project costs to be in the region of US$20 billion to US$21 billion.

The Baker Botts team that acted for Novatek included: Special Counsel Konstantin Litvinenko; Senior Associate Oleg Orekhov, and Associates Natalia Mikheeva and Nikolai Gryzunov, all of the Moscow office, and Partner Mark Rowley and Senior Associate Matt Lewy of the London office.

Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit



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