Gazprom Marketing & Trading Singapore and Yamal Trade have signed a long-term sales and purchase contract for LNG from the Yamal LNG project.
The contract will be effective for over 20 years, and provides for the annual supply of 2.9 million t of LNG that will be delivered to the Asia-Pacific markets, primarily to India. The contract price will be determined against oil-indexed prices.
Yamal LNG is the operator of an LNG plant construction project with an annual capacity of 16.5 million tons, with gas resources to be supplied from the Yuzhno-Tambeyskoye field. The start of LNG production is scheduled for 2017.
Adapted from press release by Katie Woodward