YAMAL LNG SHIPS FIRST LNG CARGO

December 13, 2017

PAO Novatek announced today that Yamal LNG has shipped the first LNG cargo containing 170 thousand cubic meters. The first cargo was sold to PETRONAS LNG UK Limited (PLUK). LNG sales according to the long-term contracts will commence in April 2018. All LNG sales prior to that date will be sold by Yamal LNG shareholders on a spot basis.
During the official loading ceremony in Sabetta on the 8th December, Russian President Vladimir Putin gave the formal command to start loading LNG onto the Arc7 ice-class tanker “Christophe de Margerie”.
According to Novatek’s Chairman of the Management Board, Leonid Mikhelson, “Novatek officially enters the global gas markets by shipping the first tanker loaded with LNG from our flagship Yamal LNG project. This event begins the process of developing and liquefying our massive natural gas resources on the Yamal and Gydan peninsulas into more than 70 million tons of LNG. This potential gives our country an opportunity to become one of the biggest global LNG exporters.” (Source: Novatek – Image: Total)