The Yamal LNG Project includes the construction of production, storage and loading facilities for liquefied natural gas (LNG) based on the resources of the South-Tambeyskoye field.
As of 31 December 2010, the South-Tambeyskoye field’s proved reserves under SEC standards totaled 418 billion cubic meters of natural gas and 15 million tons of gas condensate while the field’s proved plus probable reserves appraised in accordance with PRMS methodologies totaled 802 billion cubic meters of natural gas and 31 million tons of gas condensate.
The Project calls for the construction of a 15 million ton per annum LNG plant and production capacity for up to one million tons of gas condensate per annum. The launch of the first train of the LNG plant is scheduled for 2016.
NOVATEK announced the closing of the sale of a 20% participation interest in Yamal LNG by TOTAL through the Company’s wholly owned subsidiary NOVATEK North-West.
In March 2011, the two companies signed a Memorandum of Cooperation recognizing TOTAL as the strategic partner in the Yamal LNG project (the “Project”), which is wholly owned by Yamal LNG. The acquisition received the necessary approvals from the Russian Federation’s Strategic Investment Committee and Federal Anti-Monopoly Service in July and August 2011 allowing the two companies to close the deal.
Total consideration includes a payment for the 20% participation interest as well as financing for the Project through the charter capital of Yamal LNG and disproportional shareholder loans.
23 Января 2025 | четверг | 08:58
