Yamal LNG to call for tenders for long lead items

The representatives of Yamal LNG shareholders – OAO NOVATEK and Total – evaluated the status of the Yamal LNG project (“Project”), notably, implementation of the pre-FID (final investment decision) activity plan. The shareholders highly appreciated the achieved results and the progress made in moving the Project forward according to its accelerated development plan. Both sides noted high level of maturity of the key technical solutions and design documentation under Russian and international standards (FEED). The LNG Plant design documentation has been submitted for the state expert review. The expert opinion report, which is one of the key conditions for the FID, is expected to be received soon. Yamal LNG confirmed that the bidding process to award the engineering procurement and construction (EPC) contract for the LNG Plant is progressing according to schedule. The bidders’ proposals will be received in December 2012, which will allow to start development of the detailed design of the LNG Plant in early 2013.

The shareholders also recommended that Yamal LNG begin call for tender procedures for procurement of long lead items prior to the FID in order to keep to the approved accelerated project implementation plan.