Yamal LNG Starts Using New Storage Tank

Novatek, the largest independent natural gas producer in Russia, started using a dedicated LNG transshipment tank at the Zeebrugge LNG terminal in Belgium.

Novatek booked the tank’s capacity as part of a 20-year transshipment agreement between Yamal LNG’s unit Yamal Trade and Fluxys LNG.

The dedicated LNG tank was built specifically for the transshipment needs of Yamal LNG with a capacity of 180,000 cubic meters, allowing the Project to transship up to 8 million tons of LNG per annum.

“The LNG tank construction for Yamal LNG began in Zeebrugge in 2015 and its commissioning is a key milestone for the Project,” noted Lev Feodosyev, Novatek (NVTK.ME)’s First Deputy Chairman of the Management Board.

Feodosyev added: “The use of a dedicated LNG tank increases the reliability of LNG supplies from Yamal LNG under long-term offtake agreements, as well as increases the number of LNG cargos transshipped in Europe for delivery to other markets, and, primarily, the fastest growing markets in Asia.”

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