The Yamal LNG project, so far, has concluded loan agreements from the National Welfare Fund of Russia, as well as with Sberbank, Gazprombank, Export-Import Bank of China and the China Development Bank for $18.4bn.
First LNG production from the project is scheduled for next year.
The Yamal LNG project involves construction of a 16.5 million tons per annum LNG plant with three trains on the base of the hydrocarbon resources of the South-Tambeyskoye field.
Expected to reach full capacity by 2021, the project also includes construction of a processing facility for gas and condensate treatment, a gas transmission pipeline, well sites, a gas gathering system, a sea port at Sabetta and a fleet of tankers for LNG transportation.
Novatek owns 50.1% interest in the project while other partners include Total with 20% stake and the Chinese state-owned oil and gas firm China National Petroleum (CNPC) with 20%. The remaining 9.9% is owned by Silk Road Fund.
Recently, Novatek signed a strategic cooperation agreement with Nuovo Pignone for the development of the Russian oil and gas industry.
The deal includes localizing technological solutions in manufacturing and maintaining of energy equipment for Novatek’s LNG projects.
Image: The Yamal LNG project will have production capacity of 16.5 million tons per annum. Photo: courtesy of Novatek.
