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SETTLEMENT OF SABETTA, Yamalo-Nenets Autonomous District, Mar 30 (PRIME) -- The debut batches of liquefied natural gas (LNG) produced by the Yamal LNG facility will be sold on the spot market, while long-term contract deliveries will begin in 2018, Russian independent gas producer Novatek CEO and core owner Leonid Mikhelson told reporters on Thursday.
“We will start deliveries under long-term contracts next year, this year we plan to sell (LNG) on the spot market. Participants of the project will enter the spot market with the first batches, where they will sold best,” he said.
The Yamal LNG facility with a capacity of 16.5 million tonnes annually, held by Novatek, Total, CNPC and the Silk Road Fund, is to launch operations on the basis of the Yuzhno-Tambeiskoye deposit.
Mikhelson said the company plans to start talks with potential partners in Arctic LNG 2 project in 12 to 18 months.
“We plan to start some preliminary negotiations with potential partners maybe sometime in a year, a year and a half,” Mikhelson said.
Novatek is informing potential partners about project plans but is not holding talks on their possible participation so far and will make an investment decision on Arctic LNG 2 independently, he added.
The capacity of the project will amount to no less than the capacity of Novatek’s first LNG plant Yamal LNG. Its launch is planned for 2022–2025. The plant will use resources from fields located on the Gydan Peninsula.
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