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Yamal LNG Starts Using New Storage Tank

December 30, 2019

Image: Novatek

Novatek, the largest independent natural gas producer in Russia, started using a dedicated LNG transshipment tank at the Zeebrugge LNG terminal in Belgium.

Novatek booked the tank’s capacity as part of a 20-year transshipment agreement between Yamal LNG’s unit Yamal Trade and Fluxys LNG.

The dedicated LNG tank was built specifically for the transshipment needs of Yamal LNG with a capacity of 180,000 cubic meters, allowing the Project to transship up to 8 million tons of LNG per annum.

“The LNG tank construction for Yamal LNG began in Zeebrugge in 2015 and its commissioning is a key milestone for the Project,” noted Lev Feodosyev, Novatek (NVTK.ME)’s First Deputy Chairman of the Management Board.

Feodosyev added: “The use of a dedicated LNG tank increases the reliability of LNG supplies from Yamal LNG under long-term offtake agreements, as well as increases the number of LNG cargos transshipped in Europe for delivery to other markets, and, primarily, the fastest growing markets in Asia.”

Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons.

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