About the Project
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 three 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.
The unique location of the Yamal Peninsula offers an opportunity for flexible and competitive logistics, enabling year-round supplies of LNG to the Asia Pacific and European markets.
- Approvals received from the State Environmental Expert Review Board and the State Expert Review Board; construction permits obtained for each of the key facilities;
- Key contracts awarded;
- Final Investment Decision taken
- Active construction in progress
Project's competitive edge:
SUBSTANTIAL RESOURCE BASE
- High concentration of conventional on-shore reserves;
- Proven traditional reservoir development technology;
- Low development and production costs.
- Onshore reserves near the coastline
- LNG Plant - right on the South Tambey Field.
- Highly efficient liquefaction process due to the low average annual temperature
- Access to European and Asia Pacific markets