7th Nov 2012 08:30
YAMAL LNG TO CALL FOR TENDERS FOR LONG LEAD ITEMS
Moscow, 07 November 2012. The representatives of Yamal LNG shareholders - OAO NOVATEK and Total - evaluated the status of the Yamal LNG project ("Project"), notably, implementation of the pre-FID (final investment decision) activity plan.
The shareholders highly appreciated the achieved results and the progress made in moving the Project forward according to its accelerated development plan.
Both sides noted high level of maturity of the key technical solutions and design documentation under Russian and international standards (FEED). The LNG Plant design documentation has been submitted for the state 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 in December 2012, which will allow to start development of the detailed design of the LNG Plant in early 2013.
The 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.
For further information, please visit www.novatek.ru or contact:
| Press Service+7 (495) 721 2207[email protected]
| Investor Relations+7 (495) 730 6013[email protected] |
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OAO NOVATEK is Russia's largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company's upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 84% of Russia's natural gas production and approximately 17% of the world's gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation. The Company's shares are listed in Russia on MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker symbol "NVTK".
Copyright Business Wire 2012
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