Novatek Gas & Power and Engie finalized a long-term contract for the supply of liquefied natural gas (LNG) from the Yamal LNG project.
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Yamal LNG. From Novatek. |
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.
The LNG will be supplied FOB Montoir-de-Bretagne (the western coast of France), where it will be transferred to the LNG vessels of the Engie’s fleet.
Yamal LNG is based in the estuary of the Ob River and locked in ice nine months a year and is one of Russia’s most extensive projects in the Arctic. According to Total, a Yamal LNG partner, the project will eventually involve the drilling of more than 200 wells, the construction of three 5.5 MTPA trains, a gas terminal, and the commissioning of 16 icebreaker tankers, each able to transport 170,000 cu m.
“Signing another long-term binding agreement on LNG supply from the Yamal LNG Project ensures well balanced LNG sales portfolio and contributes to closing the project’s external financing,” Leonid Mikhelson, Novatek chairman of the management board said.
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