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Yamal LNG shipped first LNG cargo
Mark Gyetvay, Deputy Chairman of the Management Board
Alexander Nazarov, Head of IR
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11 December 2017
Moscow, 11 December 2017. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that Yamal LNG has shipped the first LNG cargo containing 170 thousand cubic meters. The first cargo was sold to PETRONAS LNG UK Limited (PLUK). LNG sales according to the long-term contracts will commence in April 2018. All LNG sales prior to that date will be sold by Yamal LNG shareholders on a spot basis.
During the official loading ceremony in Sabetta on the 8th December, Russian President Vladimir Putin gave the formal command to start loading LNG onto the Arc7 ice-class tanker “Christophe de Margerie”.
According to NOVATEK’s Chairman of the Management Board, Leonid Mikhelson, “NOVATEK officially enters the global gas markets by shipping the first tanker loaded with LNG from our flagship Yamal LNG project. This event begins the process of developing and liquefying our massive natural gas resources on the Yamal and Gydan peninsulas into more than 70 million tons of LNG. This potential gives our country an opportunity to become one of the biggest global LNG exporters.”
PAO NOVATEK is one of the largest independent natural gas producers 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 mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».
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