Russia’s Yamal LNG wins final approval

摘要

London—The Novatek-led Yamal LNG project is set to go ahead, after the Russian independent and its partner Total said Wednesday that they had given final approval for the $26.9 billion development. The long-awaited final investment decision comes on schedule and follows an agreement bring Chinese state giant CNPC into the project. It also comes on the heels of a decision by the Russian government to liberalize the LNG export market, breaking the monopoly that had been held by Gazprom on supplying Russian gas to markets outside of Russia. The Yamal LNG project on Russia’s Yamal Peninsula will comprise three LNG trains, with a total production capacity of 16.5 million mt/year, and target export markets, specifically the growing Asia-Pacific region.