Yamal LNG and Gas Natural Fenosa have signed a long-term contract for the supply of 2.5 Mt/year of LNG (3.2 bcm/year of gas, i.e. about 10% of Spain's total gas consumption). Natural gas will be supplied from the South-Tambeyskoye field located on the Yamal Peninsula in the North-Western part of Siberia, where Yamal LNG is building a liquefaction plant consisting of three production trains with overall capacity of 16.5 Mt/year of LNG. The project envisages year-round supplies of LNG to the international markets.
Yamal LNG is a joint venture currently owned by Novatek (80%) and Total (20%). According to the PRMS reserve standards, the proven and probable reserves of the South-Tambeyskoye field as of 31 December 2012 were appraised at 907 bcm of natural gas. The Project also requires the construction of transport infrastructure including a sea-port and an airport located at Sabetta (north-east of the Yamal Peninsula). Commissioning is expected in 2017-2018.