Novatek, Total, Evaluate Yamal Project

Energy companies Total of France and Novatek of Russia have evaluated their joint venture, the Yamal LNG project in north-western Siberia.

In a statement Novatek said implementation of the pre-FID (final investment decision) activity plan was a focus of the review.

Both sides noted high level of maturity of the key technical solutions and design documentation under Russian and international standards.

The LNG Plant design documentation has been submitted for official expert review. The expert opinion report, which is one of the key conditions for the FID, is expected to be received soon.

Yamal LNG confirmed that the bidding process to award the engineering procurement and construction (EPC) contract for the LNG Plant is progressing according to schedule. The bidders’ proposals will be received next month, allowing development of the detailed design of the LNG Plant to begin in early 2013.

Shareholders also recommended that Yamal LNG begin call for tender procedures for procurement of long lead items prior to the FID in order to keep to the approved accelerated project implementation plan, the company added.