Novatek Hopes to Ink CNPC LNG Deal in May

Novatek of Russia, operator of the Yamal LNG project, may sign a deal in May with CNPC to supply LNG from the Yamal project.

The document will contain exact pricing, and as of now 75-78% of future LNG from the project had been contracted already, the company’s chief Leonid Mikhelson said on Friday, ITAR-TASS reported.

The Yamal LNG project includes an LNG plant with an 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.

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LNG World News Staff, April 21, 2014