OAO Yamal LNG (Yamal LNG) says that Yamal Trade Pte Ltd. and Gazprom Marketing & Trading Singapore Pte Ltd. signed a long-term Supply and Purchase Agreement (Agreement) on the supply of 2.9 million tons of liquefied natural gas (LNG) per annum produced by Yamal LNG in Russia.
The 20-year Agreement stipulates the supply of LNG to the Asian-Pacific region, primarily to India, with the LNG price indexed to crude oil. Note The Yamal LNG Project envisages the construction of a Liquefied Natural Gas (LNG) Plant with a capacity of 16.5 million tons per annum based on the hydrocarbon resources of the South-Tambeyskoye field.
The start of LNG production is planned for 2017. Yamal Trade is a wholly owned subsidiary of Yamal LNG. Gazprom Marketing & Trading Singapore is involved in LNG trading, shipping and marketing.