OAO Yamal LNG (Yamal LNG) has announced the conclusion of a binding contract for the supply of LNG with China National Petroleum Corp. (CNPC).
The contract relates to the supply of 3 million tpa of LNG at delivered ex-ship (DES) terms for a period of 20 years.
The LNG price is indexed to the Japanese Crude Cocktail.
Chairman of the Management Board of OAO Novatek - the major shareholder of Yamal LNG - Leonid V. Mikhelson said: “Final consolidation of the long-term agreements on gas supplies from the Yamal Peninsula to one of the fastest growing energy markets in the world will provide a solid basis for the mutually beneficial cooperation and further development of relations with our Chinese partners, enabling them to increase the share of ‘clean’ fuel in the energy balance of China”.
Adapted from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquefaction/20052014/yamal_lng_signs_supply_contract_with_cnpc_625/