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China signs $1.6B engineering deal for Siberian LNG project

Jul. 10, 2014 8:27 AM ETCNOOC Limited (CEO) StockCEO, TTE, SNPTYBy: Carl Surran, SA News Editor
  • A Cnooc (NYSE:CEO) subsidiary signs a ~$1.6B deal to build equipment for the Yamal liquefied natural gas project in the Russian Arctic.
  • Russian gas producer Novatek is developing the $27B project with Total (NYSE:TOT) and Sinopec (NYSE:SNP); the first production unit, with annual capacity of 5.5M metric tons, is due to be launched in 2017.

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