Russia’s Yamal LNG to pay first dividends

Russian independent LNG producer Novatek said that the shareholders of Yamal LNG have approved the giant Arctic project’s first dividends.

“The extraordinary general meeting of shareholders of Yamal LNG resolved to pay dividends to the project’s shareholders for the first nine months of 2021, Novatek-led Yamal LNG said in a statement on Friday.

Also, the total dividend payments would amount to 31.4 billion roubles ($427.6 million), it said.

The Yamal LNG plant in Sabetta has three 5.5 mtpa liquefaction trains and one smaller unit with a capacity of about 900 thousand tons per year.

Novatek and partners launched production at the first train in the fourth quarter of 2017, followed by Trains 2 and 3 in July 2018 and November 2018, respectfully.

The fourth train started pilot LNG production in December last year, but Novatek previously said it was still working to reach the train’s full production capacity.

Besides Novatek that holds 50.1 percent in Yamal LNG, other shareholders include France’s TotalEnergies and China’s CNPC with a 20 percent stake, each, and the Silk Road Fund that owns a 9.9 percent share.

Most Popular

Venture Global’s CP2 LNG to start mobilization and site preparation

Venture Global LNG's CP2 LNG has received approval from the US FERC to start mobilization and other limited activities for the LNG project in Louisiana.

Prime Infra to buy 60 percent stake in First Gen’s Batangas LNG terminal

First Gen has entered into a deal with Prime Infrastructure Capital under which the latter will acquire a 60 percent equity stake in First Gen's gas business in the Philippines, including the Batanagas LNG terminal.

Atlantic LNG shipping rates continue to decrease

Atlantic LNG freight shipping rates continued to decrease this week, while European prices also dropped compared to last week.

More News Like This

Russian LNG production drops in April

Russian liquefied natural gas (LNG) production decreased in April compared to last year, according to the Russian statistics agency Rosstat.

Russian LNG production down in Q1

Russian liquefied natural gas (LNG) production decreased in the first quarter of this year, according to the Russian statistics agency Rosstat.

Novatek’s gas sales slightly up in Q1

Russian LNG exporter Novatek reported a slight increase in its natural gas sales, including LNG, in the first quarter of this year.

Russian LNG production down in January-February

Russian liquefied natural gas (LNG) production decreased in the first two months of this year compared to the same period last year, according to the Russian statistics agency Rosstat.