Novatek Acquired 51% Of Yamal-LNG For $650M

Novatek, a Russian oil & gas producer, acquired a 51% stake in Yamal-LNG, a Russian gas field operator, for $650 million. The acquisition is in line with Novatek's strategy to increase its resource base and production capacity. UBS Investment Bank advised Novatek, while Ural-Invest advised Yamal-LNG.