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CNPC subsidiary pens Yamal LNG deal

LNG Industry,

A China National Offshore Oil Corporation (CNOOC) subsidiary has signed a deal worth US$ 1.6 billion with the Yamal LNG Project.

As part of the deal, CNOOC's Offshore Oil Engineering Co will build “core modules” for the liquefaction process of the Yamal LNG Project, located on the Yamal Peninsula in the Russian Arctic.

Yamal LNG, a joint venture company owned by Russia’s second largest gas producer Novatek (60%), Total of France (20%) and CNPC (20%), will produce approximately 16.5 million tpa from three process trains, the first of which is set to be launched in 2017.

Today, Teekay LNG Partners and China LNG Shipping (Holdings) Limited (China LNG), concluded shipbuilding contracts Daewoo Shipbuilding & Marine Engineering (DSME) for the construction of six 172 000 m3 icebreaker LNG carriers for the Yamal LNG Project. Three more icebreaker LNG carriers were ordered by a joint venture between Mitsui O.S.K. Lines, Ltd. (MOL) and China Shipping Company earlier this week.

In May, CNPC signed contracts with both CNPC and Russian gas giant Gazprom for the supply of 3 million tpa of LNG.

Written by Ted Monroe

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