Russia’s Arctic-2 LNG project, in which China’s CNOOC Ltd 0883.HK holds a 10% stake, is proceeding as planned with first phase to start operation during this year, senior company executives said on Friday.

Arctic-2 is led by Russian firm Novatek NVTK.MM which holds a 60% stake. Other shareholders include French energy major TotalEnergies TTEF.PA, China’s CNPC and Japan Arctic LNG – a consortium of Mitsui & Co, Ltd. 8031.T and JOGMEC – each holding 10% stake.
Source: Reuters (Reporting by Chen Aizhu and Andrew Hayley; Editing by Toby Chopra)