Yamgaz SNC to manufacture equipment for Yamal LNG worth $1.6 billion

July 4, 2014

Offshore Oil Engineering Co Ltd., a Chinese company, signed a contract with Yamgaz SNC, to manufacture equipment for LNG production. The equipment is designed for Yamal's LNG plant. Offshore Oil Engineering Co Ltd. has already issued a press-release on signing of the contract. Yamgaz SNC, a joint venture of Japanese JGC Corporation and Technip, signed a similar contract for equipment  supply with Air Products, a U.S. company, in January 2014.

Under the Yamal LNG project, an LNG plant is to be built to use reserves from the Yuzhno-Tambeiskoye field. The plant’s capacity will be 16.5 million tons of LNG per year. The  Yuzhno-Tambeiskoye field’s proven and prospective reserves amount to 907 billion cubic meters of gas. Also, the project implementation envisages the construction of transport infrastructure – specifically, the construction of an airport in the north-east part of Yamal peninsula and the construction of a seaport near Sabetta village.
The project is being implemented by a joint-stock company of the same name. NOVATEK with 60 percent of shares is Yamal LNG’s main shareholder; Chinese CNPC and French Total hold 20 percent of shares each.
Copyright, ProNedra, 2014.