05-21-2014, 02:18 AM
And Yamal seems to have cleared a hurdle as Putin courts the Chinese:
"NOVATEK and China National Petroleum Corporation Sign LNG Supply Contract
Published on Tuesday, 20 May 2014 05:55
Russian gas producer NOVATEK today announced the conclusion of a binding contract for the supply of LNG with China National Petroleum Corporation. According to a Yamal LNG statement the contract calls for the supply of three million tons of LNG per annum at delivered ex-ship terms for a period of 20 years. The LNG price for the contract will be indexed to Japanese Crude Cocktail. Yamal LNG shareholders are NOVATEK (60%), TOTAL (20%) and CNPC (20%).
Last week Technip announced that with its partners the company finalized and award by Yamal LNG for an engineering, procurement and module fabrication for the Yamal LNG facility. The project will comprise three liquefaction trains of 5.5 Mt/y. The Yamal LNG Project plans for the construction of a LNG plant with a capacity of 16.5 MTPA by 2020.
Chairman of the Management Board of OAO NOVATEK Leonid V. Mikhelson said, “Final consolidation of the long-term agreements on gas supplies from the Yamal Peninsula to one of the fastest growing energy markets in the world will provide a solid basis for the mutually beneficial cooperation and further development of relations with our Chinese partners, enabling them to increase the share of “clean” fuel in the energy balance of China”. "
Total wig was noted the other day as heading to Russia and some had concern with what is going on in The Ukraine. Guess this deal was worth the risk!
"NOVATEK and China National Petroleum Corporation Sign LNG Supply Contract
Published on Tuesday, 20 May 2014 05:55
Russian gas producer NOVATEK today announced the conclusion of a binding contract for the supply of LNG with China National Petroleum Corporation. According to a Yamal LNG statement the contract calls for the supply of three million tons of LNG per annum at delivered ex-ship terms for a period of 20 years. The LNG price for the contract will be indexed to Japanese Crude Cocktail. Yamal LNG shareholders are NOVATEK (60%), TOTAL (20%) and CNPC (20%).
Last week Technip announced that with its partners the company finalized and award by Yamal LNG for an engineering, procurement and module fabrication for the Yamal LNG facility. The project will comprise three liquefaction trains of 5.5 Mt/y. The Yamal LNG Project plans for the construction of a LNG plant with a capacity of 16.5 MTPA by 2020.
Chairman of the Management Board of OAO NOVATEK Leonid V. Mikhelson said, “Final consolidation of the long-term agreements on gas supplies from the Yamal Peninsula to one of the fastest growing energy markets in the world will provide a solid basis for the mutually beneficial cooperation and further development of relations with our Chinese partners, enabling them to increase the share of “clean” fuel in the energy balance of China”. "
Total wig was noted the other day as heading to Russia and some had concern with what is going on in The Ukraine. Guess this deal was worth the risk!