Report: Novatek to commence LNG supplies to Gas Natural Fenosa in 2018

Report: Novatek to commence LNG supplies to Gas Natural Fenosa in 2018
Yamal LNG facility (Image courtesy of Novatek)

Novatek of Russia will begin supplying liquefied natural gas (LNG) from its Yamal LNG project to Spain’s Gas Natural Fenosa in 2018.

Company’s chairman Leonid Mikhelson told Interfax the deal, the two companies signed in 2013, is valued at over €30 billion (US$33.5 billion), Reuters reports.

Under the agreement signed with GNF, Novatek will be delivering 2.5 million tons of liquefied natural gas per annum for a period of 25 years.

The $27 billion Yamal LNG project is expected to ship its first cargo before October this year.

The liquefied natural gas project in the Yamal peninsula in Siberia is expected to produce a total of 16.5 million tons of LNG per year. Almost all of the volumes from the project have already been contracted.

Shareholders in the Yamal LNG project are Novatek, as the operator with a 50.1 percent stake, CNPC and Total with 20 percent stake each and China’s Silk Road Fund with a 9.9 percent stake.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

6th Mozambique Gas Summit & Exhibition

The CWC Group and ENH would like to thank all attendees, speakers, sponsors and exhibitors…

read more >

LNG2019

LNG2019 is presented by the IGU, GTI and IIR, supported by the Shanghai Government and hosted by China LNG Association, China Gas Society, The Chinese Association of Refrigeration and China Gas Association.

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

Meet with the Gas, LNG & Power Industry in Brazil & the Americas

read more >

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >