MOSCOW, January 23. /TASS/. Russia’s gas giant Gapzrom will buy a total of 2.9 million tonnes of liquefied natural gas (LNG) a year from Yamal-LNG for a term of 20 tears, according to a joint release Gazprom Marketing & Trading (Singapore/ and Yamal Trade) a Yamal-LNG subsidiary/ issued on Friday after the signing of a long-term contract.
“The contract provides for the supplies of 2.9 million tonnes of LNG a year. The contract’s term is more than 20 years. LNG will be supplied to the Asia Pacific markets, primarily in India. The contract price will be formed under an oil-indexed formula,” the document said.
Yamal-LNG is implementing a project for the construction of a gas liquefying facility with a capacity of 16.5 million tonnes a year at the Yuzhno-Tambeiskoye field. It is planned to launch LNG production in 2017. Yamal Trade is a 100% subsidiary of Yamal-LNG.
Gazprom Marketing & Trading Singapore operates on the market of LNG trade, shipment and marketing.