Forse questo il motivo della discesa delle ultime settimane:
In the News:
Russia's Yamal LNG ships first cargo
Russia’s second liquefied natural gas (LNG) project, Yamal LNG, located in the Arctic region on the Yamal peninsula, loaded its first LNG cargo in early December. Yamal’s first LNG shipment was sold to a subsidiary of Malaysia’s state-owned oil and natural gas company Petronas, and was loaded onto a specialized ice-class LNG tanker, Christophe de Margerie, at the port of Sabetta.
Yamal LNG is being developed by a Russian company Novatek and consists of three liquefaction trains, each with a capacity of 0.7 billion cubic feet per day (Bcf/d). The first train began producing LNG in December 2017, while the second and the third trains are scheduled to come online in October 2018 and July 2019. Output from Train 1 will be sold on a spot basis before the official start of contract deliveries in April 2018. Yamal LNG was built using modular designed liquefaction trains, most of which were constructed in China and Southeast Asia and then shipped to the project site.
Yamal LNG is a partnership owned by Novatek (50.1%), China National Petroleum Corporation (CNPC) (20%), Total (20%), and China’s Silk Road Fund (9.9%). The project—with an estimated cost of $27 billion—was financed primarily by loans from the Chinese banks. Sanctions imposed on Russia in 2014 prohibited U.S. and European Union banks from extending financing to the project.
More than 90% of the output from Yamal LNG is contracted long-term primarily to markets in Asia. CNPC’s contracted volume of 0.4 Bcf/d is the only contract with a fixed destination, with cargoes destined for China. The rest of the volumes (1.56 Bcf/d) have flexible destinations. The remaining 9% of the output—0.2 Bcf/d of the 2.17 Bcf/d total—are uncontracted volumes that will be marketed by a subsidiary of Yamal LNG, and some uncontracted volume may be used for bunkering and other transport fuel.
Yamal LNG has some of the lowest natural gas feedstock costs in the world (at $0.38 per million British thermal units (MMBtu)), according to project developer Novatek. The project also benefits from the Russian government’s support, including a 12-year exemption from the mineral extraction tax, no export taxes on LNG, and government-subsidized construction of the port of Sabetta.
However, because of the remoteness of Yamal LNG and its location in harsh Arctic conditions, transportation of LNG may be challenging and costly. Yamal LNG will use more expensive ice-class LNG carriers and will ship LNG eastward via the Northern Sea Route between May and November, and westward to transshipment centers in Zeebrugge (Belgium) and Montoir (France) for storage and re-load onto conventional LNG carriers for the remainder of the year. The Northern Sea Route will allow LNG from Yamal to reach Asian markets in 15 days via the Bering Strait compared to 30 days on a westward voyage via the Suez Canal, according to Total.
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