Tag: Yamal LNG

Daewoo Shipbuilding & Marine Engineering announced that the world's first ice class LNG carrier, Christophe de Margerie, finished its ice trials in the Arctic Ocean. During the commissioning phase, the ship was tested for its ice breaking ability of proceeding through ice of 2.1 m thick.

As part of the 20th International Economic Forum in Saint Petersburg, PAO Sovcomflot (“SCF Group”) and VTB Bank signed a USD 260 million 13-year loan agreement. The signatories were Sergey Frank, President and CEO of PAO Sovcomflot, and Andrey Kostin, President and Chairman of the Management Board of VTB Bank.

  Bureau Veritas is to class the series of innovative Arctic-capable LNG carriers which will be built in Korea’s DSME yard to service the Yamal LNG project in Russia’s high Arctic.Exporting LNG from Yamal calls for a type of LNG carrier never built before. A series of fifteen vessels will be built, each capable of transporting 172,000 cu m of LNG and operating in second year ice up to 2.5 m thick. YAMAL LNG has awarded Sovcomflot, MOL, Teekay and Dynagas one, three, six and five vessels respectively. They will be built to dual Bureau Veritas/Russian Register class.Philippe Donche-Gay, Executive Vice President and head of BV’s Marine and Offshore Division says, “We have made extensive investments in research into ice loads and navigation in ice, working with major Russian institutions and Asian shipyards. This effort, coupled with our world-leading expertise in large LNG carriers gives us a strong technical base to class these highly sophisticated vessels.”The 300 m loa vessels will carry 172,000 cu m LNG in four membrane tanks. The tank membranes will be of the GTT NO 96 type. The hull form is designed with a moderate ice bow forward and a heavy ice-breaking profile aft. The ship is ...

  Engie and Novatek have signed a sales and purchase agreement for one million tons of LNG from the Yamal LNG project annually, over a 23-year period starting from 2018. The 23-year contract stipulates annual supply of one (1) million tons of LNG from the volumes that Novatek Gas & Power will purchase from Yamal LNG according to the previously signed contract. The LNG will be supplied FOB Montoir-de-Bretagne (the western coast of France), where it will be transferred to the LNG vessels of the ENGIE’s fleet. Chairman of the Management Board of NOVATEK, Leonid Mikhelson stated: “Signing another long-term binding agreement on LNG supply from the Yamal LNG Project ensures well balanced LNG sales portfolio and contributes to closing the Project’s external financing. ENGIE is a reliable partner, and we expect that this cooperation will enable us to gain additional expertise in LNG marketing”. Gerard Mestrallet, Chief Executive Officer of ENGIE, declared: “The signature of this SPA is a great achievement for ENGIE and NOVATEK. These volumes will complement and diversify ENGIE long term supply portfolio. They will allow us to address the growing LNG demand, as well as our customers concern for a reliable, environmental-friendly energy”. Source and ...

Russia's Yamal LNG project expects global LNG market to face a deficit by 2018, which will open the doors for the country to a bigger share of the sector. It is expected that European LNG imports will increase to 107 million tonnes in 2025 from 38 million tonnes in 2013, Yamal LNG  said in a prospectus for forthcoming bond issue, adding that by 2020 the global LNG shortage would reach 50 million tonnes, Reuters reports. President Vladimir Putin has urged Russian companies to increase their output of LNG in an effort to double their global market share by 2020 from around 4.5 percent currently. The $27 billion Yamal LNG will start output in 2017 with the aim of producing 16.5 million tonnes a year by 2021. The Yamal LNG project is one of the largest industrial undertakings in the Arctic. It will eventually involve the drilling of more than 200 wells, the construction of 3 LNG trains, each with a capacity of 5.5 million tons per year, and a vast gas terminal, and the commissioning (a world first) of 16 icebreaker tankers, each able to transport 170,000 m³.  This ground-breaking project in the Yamal peninsula, to develop the huge South Tambey condensate gas field, calls on Yamal LNG’s ...