Operated by JSC Yamal LNG, a joint-venture of NOVATEK (50.1%), TOTAL (20%), CNPC (20%) and Silk Road Fund (9.9%), the Project is based on the Yamal Peninsula, above the Arctic Circle, and utilizes the resources of the South Tambey Field. The field’s proven and probable PRMS natural gas reserves are estimated at 926 BCM. The LNG Plant will be built in 3 phases which are scheduled for start-up in 2017, 2018, and 2019, respectively. The Project will be producing 16.5 MTPA of LNG and up to 1.2 MTPA of gas condensate which will be shipped to Asia-Pacific and European markets. Key Project Advantages

Large onshore conventional reserve base with high concentration of reserves

Well known geology and proven development technologies

Very low F&D;and lifting costs

High efficiency factor of gas liquefaction process due to sub-zero temperatures

Access to both European and Asian markets

State support, including tax benefits