Total not to increase its stake in Novatek

In the near future Total doesn’t plan to increase its stake in Novatek, chief advisor of Total for LNG, G. Broggy said.

“Meanwhile we don’t discuss such an opportunity. We don’t plan to buy shares in the near future”, he said.

In early April 2011 Total completed the deal on entering Novatek’s capital and became the holder of 12.0869% of its shares. As of February 2014 Total held 17.4% in Novatek. Total planned to increase its stake to 19.4%. In July 2014 Total stopped to buy the shares in Novatek after the wreckage of the Malaysian Boeing in the Ukraine.

Mr. Broggy said that Total didn’t consider an opportunity of joining Gazprom’s project “Baltic LNG”. Previously Total was a partner of Gazprom in another LNG project – Shtokman, the realization of which was frozen.