Japanese Mitsui and Mitsubishi pull out of talks on purchase of a share in Yamal LNG

Japanese consortium of Mitsui and Mitsubishi have put out of the negotiations with Novatek, which looks for a buyer for 10 % minus 1 share in Yamal LNG (now it has 60%), two persons that are close to both Japanese companies told the Vedomosti.

Mitsubishi’s representative said only that "now talks [with Novatek] are not conducted". «Mitsubishi and Mitsui weren’t selected the third foreign strategic partner of Novatek in Yamal LNG," - said a representative of Mitsui. The representatives of the Japanese companies declined to give other comments. There are no talks with Mitsui and Mitsubishi for more than a year, said a representative of Novatek. Representative of French Total (which has 20% of Yamal LNG) doesn’t comment on it. The newspaper also failed to get comments from Chinese PetroChina (20%).