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Lukoil to Buy 9.99% of Share in Shah Deniz Project from Petronas

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BM.GE
10.12.21 20:00
470
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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