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Lukoil to buy 9.99% of share in Shah Deniz project from Petronas
Energy
- 10 December, 2021
- 11:12
PJSC Lukoil announces the signing of amendments to the agreement concluded in October 2021 on the acquisition of a share in the Shah Deniz project from Petronas, Report informs.
In accordance with the new arrangements, the share to be acquired by Lukoil is reduced from 15.5% to 9.99% with a proportional decrease in the transaction value from $2.25 billion to $1.45 billion.
The conclusion of the amendments resulted from negotiations with the Shah Deniz project partners on the implementation of pre-emptive rights.
The deal is expected to be closed in January 2022.
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