The first 5.5 Mt/year train of the Yamal LNG project in Russia has entered the production phase and the first cargo loading is scheduled for 8 December. The Yamal LNG facility is located on the Yamal peninsula above the Arctic Circle (Russia) and liquefies natural gas from the South Tambey field, which has current gas reserves estimated at 927 bcm. The 16.5 Mt/year LNG project will consists of three liquefaction trains of 5.5 Mt/year each of LNG and up to 1 Mt/year of gas condensate. The second and third trains are expected in 2018 and 2019, respectively.
Yamal LNG's main shareholders are Novatek with 50%, Total with 20%, China National Petroleum Corporation (CNPC) with 20%, and the Chinese Silk Road Fund (10%, to be sold shortly by Novatek for the provision of a US$792m, 15-year loan to finance the project). Yamal LNG has already secured contracts for more than 90% of the total capacity with Gas Natural Fenosa (2.5 Mt/year), CNPC (3 Mt/year), Total (4 Mt/year), Novatek Gas & Power (2.9 Mt/year) and Gazprom (3 Mt/year).
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