Novatek of Russia and Total of France pushed back the start of liquefied natural gas production at the $20 billion Yamal LNG project in Russia’s Arctic to 2017 after delays reaching an investment decision, Bloomberg informs.
The first train will start producing in the beginning of 2017, according to an investor presentation.
The Yamal LNG project will develop the South Tambey field located in the arctic area of the Yamal peninsula. The resources of this condensate and gas field will allow production of more than 15 million tons of LNG per year.
With this project, Total will have access to be proved and probable (2P) reserves of approximately 800 million barrels of oil equivalent (boe) within the licence duration and to a plateau production of about 90,000 boe per day.
The project has been declared of national interest by the Russian authorities.
[mappress] LNG World News Staff, January 29, 2013; Image: Novatek