To date, 47 LNG cargoes have been offloaded with more than 3.5 million tons of LNG produced from the Yamal LNG project. The facility at Sabetta includes a 17.4 mmtpa natural gas liquefaction plant that processes the hydrocarbon resources of the South-Tambeyskoye field on the Yamal peninsula located in the Russian Arctic.
The second LNG train commissioned six months ahead of schedule, and a third LNG train start-up is also expected to be launched ahead of schedule in early 2019. The total capacity of the two currently working LNG trains is 11 mmpta. This is approximates about 3.5 percent of the global LNG market and the project partners aim to produce between 55 and 60 mmtpa by 2030. At full capacity, the three-train facility will supply 16.5 million tons of LNG per year to Asian and European markets.
Yamal LNG’s production is sold under long-term contracts in Asian and European markets, predominantly under oil-indexed price formulas. LNG will be supplied to the markets all year round via a fleet of purpose-designed ice-class LNG carriers that will travel the Northern Sea Route to Asia through the Bering Strait in the summer.
Yamal LNG shareholders include: PAO Novatek (50.1 percent), Total (20 percent), CNPC (20 percent) and the Silk Road Fund (9.9 percent).
Patrick Pouyanné, Chairman and CEO of Total, said the company will keep developing new LNG projects in the Russian Arctic with Novatek, as illustrated by the recent acquisition of a 10 percent direct working interest in the Arctic LNG 2 project. Taking account of Total’s approximate 19 percent stake in Novatek and Novatek’s intention to retain 60 percent of the project, Total's overall economic interest in this new LNG project will be approximately 21.5 percent.
Located on the Gydan Peninsula, facing the Yamal Peninsula, Arctic LNG 2 will offer opportunities to develop synergies between the two projects. With a production capacity of approximately 19.8 million tons per year (Mt/year), Arctic LNG 2 will unlock more than seven billion boe of hydrocarbon resources.
Last May, Novatek and Total also agreed that Total will have the opportunity to acquire a 10 to 15 percent direct interest in Novatek's future LNG projects in Yamal and Gydan.