Bloomberg News

Novatek Erases Loss as Qatar Considers Buying Stake, Yamal LNG

November 15, 2011

Nov. 15 (Bloomberg) -- OAO Novatek rebounded after Qatari Energy Minister Mohammed Al-Sada said the world’s biggest producer of liquefied natural gas is interested in stakes in the Russian energy company or its Yamal LNG project.

Novatek erased a decline of 3.1 percent, advancing as much as 0.5 percent to 416.73 rubles on the news and heading for the highest close since Aug. 2. The shares traded down 0.2 percent at 414.09 rubles at 4:29 p.m. in Moscow.

“We are interested in both,” Al-Sada said today in Doha. “And we are engaged in discussions on these two at the same time.”

--Editors: Torrey Clark, Alex Nicholson

To contact the reporter on this story: Anna Shiryaevskaya in Moscow at ashiryaevska@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net


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