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Novatek Says Mitsubishi, Mitsui Interested in Yamal Project

Mitsubishi Corp. and Mitsui & Co., Japan’s two biggest trading companies, are interested in joining OAO Novatek’s $20 billion liquefied natural gas project, the Russian company’s Chief Executive Officer Leonid Mikhelson said.

The plan to build the plant on the Yamal Peninsula in Russia’s arctic region will be discussed with officials at Mitsubishi, Mitsui, Itochu Corp., Tokyo Electric Power Co. and Tokyo Gas Co., Russian billionaire Mikhelson said in an interview in Tokyo. Novatek is visiting Japan with Russian Energy Minister Alexander Novak.