Total, Novatek sign Yamal LNG agreement

By OGJ editors

Total SA and Russian independent producer Novatek signed final agreements to develop Yamal LNG (OGJ Online, Mar. 21, 2011).

Total becomes the main international partner on the project with a 20% share; Novatek will keep at least a 51% interest. It said the “relevant Russian authorities” had signed off on the acquisition on Aug. 22.

Yamal LNG will develop South Tambey field in the Arctic of the Yamal Peninsula. Resources in the condensate and natural gas field will allow production of more than 15 million tonnes/year of LNG.

Total will have access to proved and probable reserves of about 800 million boe and to a plateau production of about 90,000 boe/d.

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