Yamal LNG, a joint venture LNG production project in Sabetta, Russia, has shipped the first cargo of LNG to Japan under the long-term offtake agreement with Total.
The cargo was unloaded at the Tobata LNG Terminal in accordance with the buyers lifting and delivery schedule, Russian gas producer Novatek said.
“Commencing LNG shipments to the Japanese market represents an important milestone for the company as Japan is an important LNG market and one of the priority destinations in our LNG marketing strategy,” Leonid Mikhelson, Novatek’s Chairman of the Management Board, commented.
“Further development of our logistical chain using the Northern Sea Route and a transshipment terminal in Kamchatka will expand LNG supplies to Japan as well as strengthen trade and economic links between our respective countries”.
As the largest independent natural gas producers in Russia, Novatek entered in 2017 the global gas market by successfully launching the Yamal LNG project. The JV is owned and operated by a partnership comprised of Novatek (50.1%), Total (20%), CNPC (20%), and the Silk Road Fund (9.9%). It aims to tap natural gas reserves totaling more than 4 billion barrels of oil equivalent (BOE).