In a corportate strategy presentation made last week, Novatek leader Leonid Mikhelson stressed that the Arctic project will strengthen the company´s role not only in Russia, but also in the world markets, a press release from the company reads.
The Yamal LNG plant is planned completed in 2016 and will subsequently produce an annual of 15 million tons of liquified gas. The gas will be taken from the South Tambey and later also from other regional fields like the North Obsky, the North Tambey, East Tambey, Geofyzichesky and the Salmanovsky fields, the presentation shows.
Several of the fields are located offshore in the Ob Bay.
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The Yamal LNG project was a key issue in the company´s strategy presentation made in London on 9th December. The company has already drilled 58 exploration wells at the South Tambey structure and designed a ship which will be able to conduct round-the-year delieveries from the site. The vessel is a socalled Double Acting Ship, which is adjusted to the harsh ice conditions in the area.
As BarentsObserver has reported, parts of the LNG will be shipped eastwards along the Northern Sea Route. Novatek will make the local port of Sabetta the key infrastructure hub for the project.
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The project is estimated to cost 18-20 billion USD, Oilru.com reports. A significant part of that sum is likely to be covered by Total, the French oil company which in 2011 acquired a 20 percent share of the project.