First vessel to be loaded at port Sabetta in QI’17 – Gennady Timchenko
The first vessel is expected to be loaded at port Sabetta (Yamal peninsula) in the first quarter of 2017, said Gennady Timchenko, NOVATEK shareholder (co-investor of Yamal-LNG project), when interviewed by TV channel Russia-24 at the St. Petersburg International Economic Forum 2013. According to him, annual demand for LNG from China alone can reach 100 mln t by 2030. Timchenko thinks it is important for Russia not to miss this market as it can be occupied by foreign players, like those from Australia. “It does not matter whose gas it is to be, ours or Gazprom’s – the main thing, it should be Russian”. The businessman also emphasized the Novatek would not compete with Gazprom as there would be “place” for everyone at the market. He also said there is an agreement with RF Government on LNG market liberalization in case of real contracts for its export supplies.
Timchenko also emphasized that Yamal-LNG is a new gas province in Russia with Yamburg sinking in the scale.
Vladimir Putin said at the Forum that an agreement had been signed according to which 20% of Yamal-LNG would belong to a Chinese company. Besides, Gennady Timchenko told that French banks were interested in the project (French Total is already a co-investor of Yamal-LNG project).
Yamal LNG project envisages the construction of an LNG plant with annual capacity of 16.5 million tons per annum based on the feedstock resources of the South-Tambeyskoye field. According to the PRMS reserve standards, the proven and probable reserves of the South-Tambeyskoye field as of 31 December 2012 were appraised at 907 billion cubic meters of natural gas. The Project also requires the construction of transport infrastructure including a sea-port and an airport located at Sabetta (north-east of the Yamal Peninsula). Yamal LNG is currently owned by NOVATEK (80%) and TOTAL (20%).
NOVATEK OJSC is Russia’s largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 90% of Russia’s natural gas production and approximately 17% of the world’s gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation.
