Qatar No Longer in Talks to Buy Stake in Yamal LNG Project

Qatar is not anymore in negotiations to buy a stake in Novatek’s Yamal LNG project, Ahmed Abdulqader al-Ahmed, QPI’s executive upstream director said.

“At QPI we look at opportunities on a case-by-case basis. Yamal was one of those opportunities,” Reuters cited QPI’s upstream director as saying.

He also said that the company had “shelved, but not killed” the idea of taking a stake in Yamal LNG.

The Yamal LNG project will develop the South Tambey field located in the arctic area of the Yamal peninsula. The resources of this condensate and gas field will allow production of more than 15 million tons of LNG per year.

The project has been declared of national interest by the Russian authorities.

[mappress]

LNG World News Staff, March 6, 2013; Image: Novatek