Operated by JSC Yamal LNG, a joint-venture of NOVATEK (50.1%), TOTAL (20%), CNPC (20%) and Silk Road Fund (9.9%), the Project is based on the Yamal Peninsula, above the Arctic Circle, and utilizes the resources of the South Tambey Field.
The field’s proven and probable PRMS natural gas reserves are estimated at 926 BCM.
The LNG Plant will be built in 3 phases which are scheduled for start-up in 2017, 2018, and 2019, respectively.
The Project will be producing 16.5 MTPA of LNG and up to 1.2 MTPA of gas condensate which will be shipped to Asia-Pacific and European markets.
Key Project Advantages
Large onshore conventional reserve base with high concentration of reserves
Well known geology and proven development technologies
Very low F&D;and lifting costs
High efficiency factor of gas liquefaction process due to sub-zero temperatures
Access to both European and Asian markets
State support, including tax benefits