Report: 96% of Yamal LNG volumes already booked

Yamal LNG has signed deals for the 96 percent of LNG volumes it plans to produce at its 16.5 mtpa facility, according to the project’s head Evgeny Kot.

Speaking at an LNG event Kot said that practically the total production volume has been sold under long-term, 20 to 25-year contracts, Russian news agency TASS reports.

He added that about 86 percent of the deals already signed have been penned by the countries in the Asian-Pacific, according to the report.

Novatek has not responded to an email sent by LNG World News seeking confirmation on the matter, by the time this article was published.

Russia’s Novatek has this week completed the sale of a 9.9 percent equity stake in the project to China’s Silk Road Fund in a deal is worth 1.08 billion euros ($1.2 billion).

It was recently reported that, despite sanctions, Novatek is close to finalizing the financing for the $27 billion LNG project.

Novatek’s department head Stanislav Shevkunov was also reported as saying that the first production train with a capacity to produce 5.5 million tons of LNG per year will come online in 2017, without additional financing.

LNG World News Staff