CNPC, Novatek Talk Yamal LNG Project

CNPC Chairman Zhou Jiping met with Gennady Timchenko, Non-executive Director of Russia’s Novatek, in Beijing on Tuesday where they exchanged views on issues relevant to the EPC, project management, LNG purchase and sale, and financing of the Yamal project, CNPC said in a statement.

“Both expressed to step up efforts in accomplishing the project as scheduled,” CNPC added.

CNPC bought a 20 percent stake in Novatek’s Yamal LNG project in January this year.

The Yamal LNG project includes an LNG plant with annual capacity of 16.5 million tons per annum based on the feedstock resources of the South-Tambeyskoye field.

According to the PRMS reserve standards, the proven and probable reserves of the South-Tambeyskoye field as of 31 December 2012 were appraised at 907 billion cubic meters of natural gas.

[mappress]

LNG World News Staff, April 11, 2014