FIRST YAMAL LNG SHIPMENT TO INDIA

March 29, 2018

Novatek announced that Novatek Gas and Power Asia, a wholly owned subsidiary, has shipped to the Indian market its first cargo with LNG produced by the Yamal LNG project.
Novatek’s First Deputy Chairman of the Management Board Lev Feodosyev noted: “One of our core priorities enumerated in the Company’s Corporate Strategy up to 2030, is the expansion of the supply geography and the growth of our presence in the key Asian markets. The first cargo delivered to the growing Indian market is an important development step in this direction”.
The first loading of LNG from the Yamal LNG plant to the spot market was on December 8, 2017.
Yamal LNG is the first LNG plant of Russian independent gas producer Novatek. The project is on the Yamal Peninsula in the Arctic area. It envisions three LNG trains, each with the annual capacity of 5.5 million tonnes. The first train was launched in late 2017; the second and third will be put into operation in 2018-2019. Yamal LNG’s shareholders are: Novatek (50.1%), Total (20%), CNPC (20%), and the Silk Road Fund (9.9%).
Yamal LNG is owned and operated by a partnership comprised of Novatek, Total, CNPC and the Silk Road Fund. It aims to tap natural gas reserves totaling more than 4 billion barrels of oil equivalent. (Source Yamal LNG – Image: Yamal LNG loading facility/Chiyoda)