Yamal LNG has shipped the first cargo of liquefied natural gas (LNG) to Spanish company Gas Natural Fenosa under a long-term offtake agreement, a press release from PAO Novatek said.
The 170 thousand cubic meter Arc7 ice-class LNG carrier “Fedor Litke” unloaded the first cargo in the port of Mugardos in accordance with the lifting and delivery schedule.
Annual sales volumes according to the 24-year long-term offtake contract are 2.5 million tons of LNG, which equals to more than 3 billion cubic meters of natural gas.
Novatek's Chairman of Management Board Leonid Mikhelson noted: "The first LNG tanker shipped today to Gas Natural Fenosa marks a new milestone in Russian natural gas deliveries as it is the first Russian gas delivered under long-term agreements to Spain where Russian pipeline gas is not supplied. We look forward to fulfilling our long-term LNG contract by supplying clean-burning natural gas to Gas Natural Fenosa – the largest supplier of natural gas in the Spanish market”.
Yamal LNG is owned and operated by a partnership comprised of Novatek, Total, CNPC and the Silk Road Fund. It aims to tap natural gas reserves totaling more than 4 billion barrels of oil equivalent (BOE).
PAO Novatek is one of the largest independent natural gas producers in Russia.
