Production of Liquefied Gas at Yamal LNG Plant Launched

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The Yamal LNG plant controlled by NOVATEK started production of liquefied natural gas (LNG) on the first production line with a design capacity of 5.5 million tons of LNG per year.

According to NOVATEK, December 8, the first LNG cargo is scheduled to be loaded. For this, the LNG tanker Christophe de Margerie will be used, named after the former head of Total (the corporation owns 18.9% of NOVATEK and 20% of Yamal LNG), who died in a plane crash in Vnukovo in October 2014.

Yamal LNG is the first private LNG plant in Russia to be built on the basis of the Yuzhno-Tambeyskoye field.

The project budget is estimated at $ 27 billion, of which about $ 12 billion was provided by Chinese banks, and another 150 billion rubles – by FNB. 50.1% of Yamal LNG shares are owned by NOVATEK, 20% by French Total and Chinese CNPC, and another 9.9% by the Chinese Silk Road Fund.

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