UPDATE: Yamal LNG reaches full projected capacity of 16.5 mln tns

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SABETTA, Yamalo-Nenets Autonomous District, Dec 11 (PRIME) -- The Yamal LNG (liquefied natural gas) facility of Russian independent gas producer Novatek on Tuesday reached the full projected capacity of 16.5 million tonnes annually.

“We believe that the Yamal LNG will be a guideline for the global gas industry in terms of construction timeline. (The project) has allowed the company to become one of the main participants of the global LNG market,” Novatek said in a statement quoting CEO and core owner Leonid Mikhelson as saying.

“Our achievements point the way to creating a large-scale LNG cluster on the basis of conventional natural gas resources of the Yamal and the Gydan peninsulas to help us reach the strategic goal of 55–60 million tonnes of LNG by 2030.”

Mikhelson added that the actual capacity of each stage of the plant surpasses the projected capacity of 5.5 million tonnes by around 10%.

Prime Minister Dmitry Medvedev also attended the ceremony to call the event “remarkable for the whole Russian gas industry” and for Novatek’s foreign partners.

The Yamal LNG facility is based on the Yuzhno-Tambeiskoye field on the northern Yamal Peninsula. Novatek holds 50.1% in the project, France’s Total has 20%, China’s CNPC owns 20% and China’s Silk Road Fund holds 9.9%.

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