European Commission Grants Total Stake in Yamal LNG

The European Commission said it has granted clearance under the EU Merger Regulation to the proposed acquisition of the joint control of the Russian Yamal LNG by Total E&P Yamal and OAO Novatek.

Yamal LNG, a 80% subsidiary of NOVATEK, is engaged in the engineering and design work for the construction of an onshore LNG facility located near Sabetta on the Yamal pensinsula.

The project is based on the resources of the South-Tambeyskoye field.

Yamal LNG has contracted CBI Lummus to carry out the pre-FEED work, which was completed in early 2011, and presently, CBI Lummus is working on the Project’s FEED stage expected to be completed in the first half of 2012.

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LNG World News Staff, March 20, 2012; Image: Novatek