The Novatek-operated Yamal LNG project in the Arctic is expected to ship its first cargo of the chilled gas in 2017.
The giant LNG project located on Yamal Peninsula in Russia includes the construction of a 16 mtpa liquefaction plant which will be fed from the colossal South-Tambeyskoye field.
Dynagas recently entered into long-term time charter agreements for 9 carriers which will be used to transport LNG from the Yamal project.
Under the deal, five 172,000 cubic meter ARC7 LNG carriers will be built at DSME shipyard in South Korea.
Four of Dynagas’ existing ARC4 LNG carriers will come into Yamal shipping fleet to support deliveries committed to Asian buyers from 2019.
Yamal LNG is a joint venture between Novatek (60 percent), Total (20 percent) and China National Oil & Gas Exploration and Development Corporation (20 percent) with China’s Silk Road Fund soon to complete the acquisition of 9.9 percent stake from Novatek.
LNG World News Staff; Image: Novatek