Total, Novatek launch gas exports from Russia's Yamal LNG plant

|By:, SA News Editor

Total (TOT -0.6%) and Russian partner Novatek say the first delivery of liquefied natural gas from their jointly owned $27B Yamal LNG plant in Russia's Arctic region is scheduled to be loaded onto a ship today.

TOT and its partners say Yamal LNG can produce more than 70M tons/year of gas, ~15% of the global gas market and approaching the current capacity in Qatar, the world’s biggest producer of the gas.

TOT says at full capacity, Yamal LNG's three-train facility will supply 16.5M tons/year of LNG to Asian and European markets.

The project is 50.1% owned by Novatek, with TOT and China's CNPC each holding 20% and Silk Road Fund owning a 9.9% stake.