French Total to buy 4 mln.tons of LNG a year from Yamal

The French oil-and-gas company Total, which has 20% in the project “Yamal LNG”, will buy 4 million tons of LNG a year from the plant in Yamal. The head of the subdivision of Total Gas & Power Philippe Sauquet said.

“We have concluded an agreement on a supply of 4 million tons from our new project “Yamal LNG”, a spokesman for Total said, Bloomberg reports.

Earlier on January 27, the head and co-owner of the controlling shareholder of the project (60%), OJSC “NOVATEK”, L.Mikhelson asserted that “Yamal LNG” has signed contracts on a supply of LNG in the volume of 75-78% of the production capacity of the plant. Chinese CNPC is the third shareholder of the project (20%). NOVATEK clinched the deal with CNPC in January. The agreement considers the signing of a long-term contract on a supply of not less than 3 million tons of LNG a year to China by NOVATEK. RIA Novosti reports.