OAO Yamal LNG said on Friday that its unit Yamal Trade and Gazprom Marketing & Trading Singapore signed a long-term supply and purchase agreement.
The deal is for the supply of 2.9 million tons of liquefied natural gas per annum produced by Yamal LNG in Russia.
The 20-year agreement stipulates the supply of LNG to the Asian-Pacific region, primarily to India, with the LNG price indexed to crude oil.
The planned 16.5 MTPA Yamal LNG project, operated by Novatek, is scheduled to start production in 2017.
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Press Release; Image: Novatek