Gazprom will give financial guarantees on 3 milliard and 100 million dollars to the trader of «Yamal LNG»
16:05 30 июня 2015
Категории: News in English
The board of directors of «Gazprom» approved giving of the financial guarantee on the sum not less than 3 milliard and 100 million dollars in the favor of the trader of the project «Yamal LNG» – Yamal Trade.
The guarantee is given to provide fulfillment of obligations of the affiliated company of the gas concern Gazprom Marketing and Trading Singapore before the trader on the contract of sale and purchase of liquefied natural gas.
The contract of «Yamal Trade» and «Gazprom Marketing and Trading Singapore» was signed this January. According to the contract, every year the trader of the project «Yamal LNG» will deliver 2 million and 900 thousand tons of liquefied gas manufactured in Yamal to the affiliated company of the group «Gazprom». The term of action of the agreement is more than 20 years. This way Russian LNG will be delivered to markets of the Asia-Pacific region and also to India, as the website teknoblog.ru informs.
Gazprom agreed to guarantee fulfillment by «Gazprom Marketing & Trading Singapore» its obligations on the contract of sale and purchase of LNG within a term of existence of any debt obtained by the company «Yamal LNG» from creditors – the third persons in relation to project financing. Gazprom gives guarantees to Yamal Trade on precise fulfillment of all payment obligations. The gas holding is obliged in the case of non-payment of any sum on the contract to pay it on demand if guaranteed obligations become non-valid. In this case Gazprom will compensate losses to Yamal Trade in the size of the sum subjected to payment.
As we should remind, the project «Yamal LNG» foresees building of the plant with the capacity 16 million and 500 thousand tons of LNG per year on resource base of the South-Tambey field. As it is expected, the first of three stages of the plant will be input to operation in 2017. Besides, the project foresees building of the aerodrome and the sea port in the settlement Sabetta near the plant. The total cost of capital allocations to the project makes about 27 milliard dollars. It is fulfilled by the independent Russian gas company NOVATEK together with the French company Total and the Chinese company CNPC.