Saudi Aramco, Novatek will soon close Arctic LNG 2 deal

After talks with Saudi energy minister Khalid Al-Falih on Sunday, Leonid Mikhelson, chief executive of Russian gas giant Novatek, said that “a deal could be expected soon" for the company's Arctic LNG 2 project.

"We are in talks with Saudi Aramco (on the Arctic LNG 2 project). I think we will get something concrete in coming months," Mikhelson told Reuters.

He added that he does not expect global liquefied natural gas (LNG) prices to change after the project's launch.

Speaking on the sidelines of a meeting of OPEC members and other major oil exporters in Azerbaijan, Mikhelson also said that the so-called "gas OPEC"—   a loose organization of global leading producers of natural gas —  would strengthen the global energy markets.