LONDON, Oct 31 (Reuters) – Spain’s Gas Natural Fenosa on Thursday signed a deal to buy 2.5 million tonnes per year of liquefied natural gas (LNG) from Russia’s planned export terminal at Yamal on a long-term basis.
The deal, equivalent to roughly a tenth of Spain’s total gas consumption, or 3.2 billion cubic metres/year, will be exported from an Arctic liquefaction plant currently being built by Russia’s No. 2 gas producer Novatek and French major Total.
Gas will be fed to the 16.5 million tonne/year plant, scheduled to start exports in 2016, from the South-Tambeyskoye field in the Yamal Peninsula.
“The contract with Yamal LNG will become one of the most important in the Gas Natural Fenosa portfolio…In the absence of access to Russian pipeline gas, Yamal LNG gas supplies are of major importance to us,” the company said in a statement.
The announcement follows a Russian government decision earlier this week to liberalise LNG exports – now the preserve of state-owned Gazprom – from the start of next year.
The Novatek-led project concluded an outline deal to supply three million tonnes of LNG per year to China National Petroleum Corp. (CNPC) last week.
The deal with CNPC, which recently bought a 20 percent stake in Yamal LNG, covers a period of 15 years, with pricing linked to the so-called Japanese crude cocktail – a benchmark based on oil prices.
Gas Natural Fenosa did not specifiy the duration of its deal with Yamal LNG nor the mechanism used to price the fuel.
(Reporting by Oleg Vukmanovic; editing by Keiron Henderson)
COPENHAGEN, April 15 (Reuters) – Shipping company Maersk has not made any deployment changes after a Portuguese-flagged container ship was seized by Iran in the Strait of Hormuz on Saturday, the Danish company said on Monday. “We find recent...
WASHINGTON, April 15 (Reuters) – The FBI has opened a federal criminal investigation into the deadly collapse of a Baltimore bridge last month when a ship crashed into one of its supports,...
By Daryna Krasnolutska (Bloomberg) Russia and Ukraine may have struggled to shift things significantly on the battlefield for more than 16 months, but a new phase of the war is moving...
April 14, 2024
Total Views: 2051
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.