Gazprom, Yamal Sign Deal to Sell LNG in Asia

first_imgzoom Gazprom Marketing & Trading Singapore, a wholly-owned trading subsidiary of Russia’s Gazprom Group, and Yamal Trade, a wholly-owned trading subsidiary of Russian gas producer Yamal LNG, have signed a long-term contract for liquefied natural gas (LNG) from the Yamal LNG project to be sold in Asia.The contract that will be effective for over 20 years provides for the annual supply of 2.9 million tons of LNG that will be delivered to the Asia-Pacific markets, mostly to India. The contract price will be determined using the formula with oil indexation.Back in May 2014, the companies signed the Heads of Agreement during the St. Petersburg International Economic Forum, which stated that LNG will be supplied under FOB (free on board) terms in a transfer point of Western Europe to be further delivered to Asia-Pacific markets.The Yamal LNG project envisages the construction of an LNG plant with an annual capacity of 16.5 million tons, with natural gas to be delivered from the Yuzhno-Tambeyskoye field.The field’s proven and probable gas reserves amount to 927 billion cubic meters. LNG production will start in the end of 2017. The project operator is Yamal LNG, with NOVATEK holding 60 per cent, Total – 20 per cent, and CNPC – 20 per cent in the company.last_img read more

Cold Weather to Affect Most of Morocco this Weekend

Rabat – February started on a cold note. The National Meteorological Directorate forecasts a drop in temperatures and cold weather.A drop of temperature will sweep the reliefs, the southeast, the east and the highlands, with frost or ice on the forecast.High and Middle Atlas, the east, the Mediterranean, Rif and Saiss are expecting moderate to heavy rain that will change to snow in its wake. Meanwhile, the sky will be cloudy in the Atlas, the northern provinces of the South and the plateaus of phosphates and Oulmes. A freezing cold snap is expected to grip reliefs of the High and Middle Atlas, the Rif and the highland, as well as snowfall at heights exceeding 1,200 meter.Moderate to strong wind gusts will hit the east, the Mediterranean coast and the northern regions of the Saharan provinces.Sub-zero temperatures reaching  -06 are expected on the reliefs, from -03 to 03 ° C on the southeast slopes and the south of the east, from 03 to 08 ° C on the plateaus of phosphates and Oulmes and the Atlas and 08 to 12 ° C on the coasts, the Atlantic plains, the Souss and the southern provinces.Maximum temperatures will be around  02 to 07 ° C on the reliefs and the east, from 08 to 13 ° C on the Saiss, the plateaus of phosphates and Oulmes, 12 to 17 ° C on the Atlantic plains and the south-east and from 17 to 24 ° C on Souss and the southern provinces. read more