Yamal LNG announces August maintenance
The Novatek-led Yamal LNG plant in the Russian Arctic will close on August 1 and will not resume operations until August 19, so that regular maintenance work can take place, the operating consortium said on July 2.
Yamal LNG comprises three 5.5mn metric ton/year liquefaction trains that were brought online in 2017 and 2018, as well as a fourth 0.9mn mt/yr train that started production this year. Novatek has a 50.1% interest in the project, while TotalEnergies has 20%, CNPC has 20% and Silk Road Fund 9.9%.
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Summer prices have soared in Europe and globally owing to a heat wave, weak LNG supply and traders scrambling to put more gas into storage. Gazprom's Nord Stream and Yamal-Europe pipelines are also due to go offline for maintenance this month, following downtime at TurkStream in June, potentially making the market even tighter.