MOSCOW and LONDON, June 7, 2021 – A cross border team of Global Projects lawyers at Baker Botts, a leading international law firm, has acted for PAO Novatek (“Novatek”), the largest liquified natural gas (LNG) producer in Russia, in the signing of a Share Purchase Agreement with TotalEnergies SE (“TotalEnergies”) on the sale of a 10% participation interest in Arctic Transshipment LLC.
Arctic Transshipment LLC is Novatek’s wholly owned subsidiary that will operate two LNG transshipment complexes currently under construction in the Kamchatka and Murmansk regions. The transshipment complexes are part of Novatek’s logistical chain to optimize the use of the Arc7 ice-class tanker fleet, with the aim to ensure efficient and cost-effective LNG transportation from Arctic LNG 2 and other Novatek projects.
The Baker Botts team that acted for Novatek included: Partner Konstantin Litvinenko, Senior Associate Natalia Mikheeva, Associate Nikolai Gryzunov of the Moscow office, and Partner Rob Butler and Senior Associate Tom Edwards of the London office.
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