Yamal LNG and Fluxys sign cooperation agreement on LNG transshipment
Yamal LNG and Fluxys have signed an agreement outlining the parameters of cooperation on the transshipment of liquefied natural gas (LNG), supplied from an LNG plant on the Yamal Peninsula (Russia), at Fluxys’ LNG terminal in Zeebrugge (Belgium), Fluxys says in its press release.
Yamal LNG is building a natural gas liquefaction plant with its first train scheduled to be commissioned in 2017. The transshipment platform in Europe will be an integral part of the logistical chain enabling LNG supply from Yamal to reach the Asian-Pacific countries when winter navigation is closed at the Arctic Ocean's Northern Sea Route, thus ensuring year-round LNG supplies to this region.
Fluxys will now carry out all technical, permitting and regulatory processes with a view to provide LNG transshipment services.
Gabriel Brecque, Shipping and Marketing Director of Yamal LNG, stated: “The transshipment platform is an integral part of Yamal LNG’s logistical chain to bring LNG from the Yamal Peninsula to the buyers. We see Fluxys as a reliable partner and a knowledgeable expert, offering us long term prospects of a mutually beneficial relationship”.
Walter Peeraer, Managing Director of Fluxys, stated: “If we succeed in attracting transshipment operations to the Zeebrugge LNG terminal, this would be an important project for Fluxys and the port of Zeebrugge. It would bring along a considerable investment at the terminal, link the facility to an additional source of LNG and entail a significant volume of ship movements as well.”
The Yamal LNG Project includes the construction of a Liquefied Natural Gas (LNG) Plant with a capacity of 16.5 MTPA based on the hydrocarbon resources of the South Tambeyskoye field. As of 31.12.2013, the field's proved and probable gas reserves according to PRMS standard are estimated at 927 billion cubic meters.
Yamal LNG shareholders are NOVATEK (60%), TOTAL (20%) and CNPC (20%).
Fluxys is a Belgium-based, fully independent gas infrastructure group with assets in gas transmission, gas storage and LNG terminalling thoughout Europe.
The Zeebrugge LNG terminal is owned by Fluxys LNG, a 100% affiliate of Fluxys Belgium (NYSE Euronext listed), affiliate of Fluxys and operator of the infrastructure for gas transmission, gas storage and LNG terminalling in Belgium. Any investments or revenues that may result from the cooperation agreement between Yamal LNG and Fluxys would be generated by Fluxys Belgium through its affiliate Fluxys LNG.
