Yamal LNG project operated by Novatek has been progressing over the past few months despite sanctions that crippled the completion of the financing for the project.
The $27 billion project has passed the 25% completion mark in January this year and since then secured several LNG supply deals.
Yamal LNG signed the deal for the supply of 2.9 million tons of liquefied natural gas per annum for 20 years with Gazprom Marketing & Trading Singapore.
Novatek also signed two supply deals with LNG majors ENGIE, a 23-year long contract for the supply of 1 mtpa of LNG, and Shell for an annual supply of approximately 0.9 million tons of LNG for more than 20 years.
The 16,5 mtpa project is expected to start production in late 2017. The chilled gas will be stored in storage tanks with the capacity of 160,000 cbm. To ensure stability, the structures will be supported by piles 60 centimeters in diameter, driven into the ground to a depth of around 20 meters. Yamal LNG’s storage tanks are supported by around 950 piles each.
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LNG World News Staff; Image: Novatek