Engie Books 23 Million Tons of LNG from Yamal Project
- Business & Finance
French energy distribution company Engie (formerly GDF Suez) and Russia’s Novatek have signed a sales and purchase agreement for one million tons of LNG from the Yamal LNG project annually, over a 23-year period starting from 2018.
This represents 14 cargoes per year which will be delivered from Yamal Trade icebreaker LNG carriers at the Montoir-de-Bretagne LNG terminal (Engie), on the western coast of France, where Novatek will transfer the LNG, via a transshipment service operated by Elengy, to Engie vessels.
”These volumes will complement and diversify Engie long term supply portfolio,” said Gérard Mestrallet, Chief Executive Officer of Engie.
”They will allow us to address the growing LNG demand and our customers concern for a reliable, environmental-friendly energy.”
The Yamal LNG project, in which Novatek holds a 60% stake, is the first LNG liquefaction project of this size above the Arctic circle to date.
This will be one of the biggest liquefaction plants in the world, planned to start up in 2017 with 16.5 mtpa production capacity, 3 liquefaction trains, 4 LNG storage tanks and up to 15 icebreaker LNG vessels.