OAO Yamal LNG said on Friday that its unit Yamal Trade and Gazprom Marketing & Trading Singapore signed a long-term supply and purchase agreement.
The deal is for the supply of 2.9 million tons of liquefied natural gas per annum produced by Yamal LNG in Russia.
The 20-year agreement stipulates the supply of LNG to the Asian-Pacific region, primarily to India, with the LNG price indexed to crude oil.
The planned 16.5 MTPA Yamal LNG project, operated by Novatek, is scheduled to start production in 2017.
Press Release; Image: Novatek