Total: Yamal LNG Project Begins Gas Exports
08 Décembre 2017 - 9:03AM
Business Wire
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announces that the first
cargo of liquefied natural gas (LNG) from Yamal LNG is ready to
leave Sabetta. This first shipment is a major milestone for Yamal
LNG, one of the biggest liquefied natural gas projects in the
world. Yamal LNG will produce reserves of 4.6 billion barrels
of oil equivalent in Northern Russia. At full capacity, the
three-train facility will supply 16.5 million tons of LNG per year
to Asian and European markets.
“This first LNG cargo is a testament to the tremendous efforts
of the project partners, contractors and all parties who managed to
deliver Yamal LNG on time and on budget. Together we managed to
build from scratch a world-class LNG project in extreme conditions
to exploit the vast gas resources of the Yamal peninsula,” said
Patrick Pouyanné, Chairman and CEO of Total. “This giant project
would not have been possible without the power of our partnership
with Novatek and displays Total’s commitment to Russia. With
remarkably low upstream costs, Yamal LNG is one of the world’s most
competitive LNG projects and it will contribute to the Group’s gas
production for many years”.
Yamal LNG processes natural gas from the giant onshore South
Tambey gas and condensate field, located on the Yamal peninsula.
The project includes an integrated gas treatment and
liquefaction facility with three trains each having a capacity
of 5.5 million tons per year, storage tanks, port and airport
infrastructures. The construction of the first train as well as the
logistic facilities was successfully completed with more than
30,000 personnel actively involved on site at peak. The second and
third trains will be commissioned in 2018 and 2019
respectively.
Yamal LNG’s production is sold under long-term contracts on
Asian and European markets, predominantly under oil-index price
formulas. LNG will be supplied to the markets all year round
through an innovative shipping approach involving a fleet of
purposely designed ice-class LNG carriers which will travel the
Northern Sea Route to Asia over the Bering Strait during the summer
time.
The project is operated by Yamal LNG company, owned by Russian
independent gas producer Novatek (50.1%), Total (20%), CNPC (20%)
and Silk Road Fund (9.9%).
Total in Russia:
Total has been present in Russia for over 25 years and the
Group’s equity production was 335,000 barrels of oil equivalent per
day (boe/d) in 2016. This production comes from the Kharyaga
(Total, 20%) and Termokarstovoye fields (Total, 49%) as well as
from other fields through the Group’s 18.9 % share in Novatek.
Total, a world LNG leader:
A pioneer in the LNG industry, TOTAL is today one of the world’s
leading players in the sector with strong, diversified positions
along the entire value chain and 11 million tons of LNG produced in
2016.
Following the acquisition of Engie’s upstream LNG business,
expected to be finalized in summer 2018, the Group will manage an
overall volume of around 40 million tons of LNG per year by 2020,
making Total the second largest global player among the majors with
a worldwide market share of 10%.
The company is involved in LNG projects in Australia, the United
States, Indonesia, Qatar, Yemen, the United Arab Emirates, Oman,
Norway, Nigeria, Angola and Ivory Coast.
Yamal LNG key figures:
- FID : December 2013
- Plan capacity: 16.5 million tons per year
- 3 liquefaction trains of 5.5 million tons per year each
- Production plateau: 450,000 boe/d
- Reserves : 4.6 billion barrels of oil equivalent
- Development cost : $27 billion equivalent
- 15 ice-class (ARC 7) LNG carriers with a capacity of 170,000
cubic meters each
- Long term contracted volume : 54% to Asia, 46% to Europe
- Total offtakes 4 million tons of LNG per year to be sold within
the Group’s portfolio
For more information
https://www.total.com/sites/default/files/atoms/files/yamal-lng.pdf
About Total:
Total is a global integrated energy producer and provider, a
leading international oil and gas company, a major player in
low-carbon energies. Our 98,000 employees are committed to better
energy that is safer, cleaner, more efficient, more innovative and
accessible to as many people as possible. As a responsible
corporate citizen, we focus on ensuring that our operations in more
than 130 countries worldwide consistently deliver economic, social
and environmental benefits.
* * * * *
Cautionary note:
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms “Total” and “Total Group”
are sometimes used for convenience where general references are
made to TOTAL S.A. and/or its subsidiaries. Likewise, the words
“we”, “us” and “our” may also be used to refer to subsidiaries in
general or to those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL S.A. nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
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