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.

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