Novatek has started construction of the port of Sabetta in Yamal

The second-largest natural gas producer Novatek in Russia began construction of a sea port of Sabetta in the north-east of the Yamal Peninsula.

The port will be a key element of transport infrastructure project "Yamal LNG", which envisages the creation of a complex of liquefied natural gas on the basis of the South Tambeyskoye field. Construction of the port will enter into the development of the Yamal fields and the Gulf of Ob, as well as provide year-round navigation along the Northern Sea Route. The total cost of the project "Yamal LNG" is estimated at one trillion rubles.

At the first stage it is planned to construct piers for the reception of large production modules of the LNG plant and building materials. As expected, the first port of Sabetta modules will in July 2014. In the second phase will be built berths for LNG and gas condensate.

Construction of a sea port is a public-private partnership. The main participants in the project — OAO "Yamal LNG" Rosmorrechflot, "Rosmorport". General designer — JSC "Lenmorniiproekt."

According to the Ministry of Transport of the Russian Federation, the turnover of the seaport in 2020 may reach 30.7 million tons a year.

The head of the Ministry of Transport of the Russian Federation Maxim Sokolov said at the groundbreaking that in 2016 the production and shipment of LNG is expected to reach 5 million tons per year in 2018 — will reach 15-16 million tons.

Investment in the project from the federal budget in the period 2012-2016 will amount to 47.2 billion rubles, investment Novatek — 25 billion rubles, he added.

Novatek plans to supply LNG from the Yamal Peninsula in the Pacific Rim countries within five months of the year in the eastern direction (July-November through the Bering Strait), seven months a year — to the west (in December and June over the Atlantic Ocean).

In October 2011, the project "Yamal LNG" entered the French oil company Total, which bought 20% stake for $ 425 million. After the transaction, the group Novatek retained 80 per cent share (51% belongs to Novatek and 29% of its "daughter", "NOVATEK North-West"), but the shareholders’ agreement provides that key strategic, operational and financial decisions are subject to the unanimous approval of both shareholders, and none of the participants has a preferential right to vote.

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