Gazprom to Buy LNG from Yamal to Supply to India

Yamal LNG has agreed to sell LNG to a Gazprom subsidiary, which will supply the fuel to to the Asian-Pacific region, primarily to India.

Yamal Trade Pte Ltd and Gazprom Marketing & Trading Singapore Pte Ltd signed a long-term Supply and Purchase Agreement on the supply of 2.9 million tons of LNG per annum produced by Yamal LNG, with the LNG price indexed to crude oil, according to a statement by Yamal LNG.

The Yamal LNG project envisages the construction of a LNG plant with a capacity of 16.5 MTPA based on the hydrocarbon resources of the South-Tambeyskoye field. The start of LNG production is planned for 2017. Yamal Trade is a wholly owned subsidiary of Yamal LNG.