Yamal LNG Satisfies Lenders, Starts Payouts

Russia's Yamal LNG has passed the tests set by external lenders, allowing the project to make its first payment to shareholders, operator Novatek said June 27.

"The timely completion of the operational and logistical tests represents another milestone achieved by the project within 18 months of commencing first LNG, and the successful launching of the second and third LNG trains ahead of schedule," the company's statement reads.

Russia's biggest LNG export plant is a 17.4mn mt/yr gas liquefaction plant comprised of three LNG trains of 5.5mn mt/yr each and one LNG train of 900,000 mt/yr. The first train began production in Q4 2017 and trains 2 and 3 began in July 2018 and November 2018, respectively. Yamal LNG shareholders include the independent Novatek (50.1%), Total (20%), CNPC (20%) and the Silk Road Fund (9.9%).