Spain will purchase liquefied gas of NOVATEK

The Spanish gas company "Fenosa" concluded the long-term contract for purchase of 2 million and 500 thousand tons of liquefied natural gas per year with the plant in Yamal subordinated to NOVATEK. The contract is calculated on 20 years.

This is the second contract for purchase of liquefied gas from the plant, which is planned to start up in 2016. The first contract for 15 years for delivery of 3 million tons of liquefied gas per year was concluded with the China National Petroleum Corporation (CNPC), which has 20 percent in the project "Yamal LNG". Gas of Yamal, the amount of which makes about one-tenth part of the whole consumption in Spain, will be exported from the arctic plant.

The South-Tambey field with reserves 1 trillion and 300 milliard cubic meters of gas and also fields of Gydan, which received tax and customs privileges for liquefying of gas, are the resource base of the plant with capacity 16 million and 500 thousand tons per year. As it is declared in the Spanish company, the contract with "Yamal LNG" will become one of the most important in the portfolio of Gas Natural Fenosa. Because of absence of access to Russian pipeline gas, deliveries from enterprises of Yamal are extremely important for the Spanish side.

Announcement about the contract with Fenosa took place after approval by the Russian government of the draft law about liberalization of gas export, as the Reuters news agency informs.