China’s Silk Road Fund (SRF) entered into an agreement with Russia’s Novatek to acquire 9.9% equity stake in the Yamal LNG project.
 |
|
Map of Yamal. From Total. |
Should the deal be approved, the equity shares will be: Novatek 50.1%, Total (20%), CNPC (20%) and SRF (9.9%).
The Yamal LNG project is located in the Yamal peninsula, on the estuary of the Ob River and will see the construction of an LNG plant with annual capacity of 16.5 MTPA based on the feedstock resources of the South-Tambeyskoye field. Proven and probable reserves of the South-Tambeyskoye field as of 31 December 2014 were appraised at 926 Bcm of natural gas.
The project is currently at the active construction stage, which will require the construction of three trains of 5.5 MTPA capacity, a gas terminal, and numerous icetankers, each able to transport 170,000 cu m.
“We consider Yamal LNG to be one of the most prospective and competitive LNG projects in the world. Such observation supports our interest in becoming its shareholder. We hope our entrance into the Project will facilitate an expedited closing of the Project’s general external financing, as well as contribute to further development of the Chinese-Russian cooperation in the energy sector,” Wang Yanzhi, SRF president said.
This summer in June, Novatek and Engie finalized a long-term contract for the supply of LNG from the Yamal LNG project. The 23-year contract stipulates annual supply of 1 million tons of LNG from the volumes that Novatek Gas & Power will purchase from Yamal LNG, according to the previously signed contract.
Read more:
Subscribe
