Russia's Novatek has brought two more investors on board for its Arctic LNG 2 project.

A consortium comprising Mitsui & Co and Japan Oil, Gas and Metals National Corporation (JOGMEC) have agreed to buy a 10% stake.

Their participation also provides for the long-term LNG off-take of 2m tons per year by the Japanese partners.

"We welcome the consortium of Mitsui and JOGMEC as partners in our Arctic LNG 2 project,” said Novatek noted Leonid Mikhelson.