Yamal LNG to receive contractor offers for LNG plant construction by Dec, investment decision to be made later - Mikhelson
MOSCOW. Oct 16 (Interfax) - Yamal LNG plans to receive contractor offers for the construction of a LNG (liquefied natural gas) plant by December, and an investment decision for the project will be made later, NOVATEK's chief, Leonid Mikhelson, said at a conference on the LNG project.
The final investment decision will not be tied any date, Mikhelson said, because Yamal LNG is yet awaiting proposals from potential EPC (engineering, procurement, and construction) contractors for the building of the plant.
A source familiar with the situation involving a third consortium including Petrofac and Stroygazconsulting told Interfax this. The two other consortiums involve CB&! Lumus, Saipem, and Chiyoda, and Technip and JGC.
NOVATEK's partner in the Yamal LNG, Total, has already figured out its budget for 2013, Mikhelson said. "And for the possibility of all the other contracts concluding the measures necessary for the making of a final investment decision and the receipt of project financing, I think that will be resolved in six, eight months at most," he said, adding that "we'll sit down and look at a final investment decision" at the end of this year.
Mikhelson also said that plans call for clinching contracts for long-term equipment in Q1.
After a presentation in London during a Gastech forum potential candidates for a stake in Yamal LNG have stepped up their activities, he said. Asked if Indian companies had expressed interest, he said, "Yes, ONGC [Oil and Natural Gas Corporation] has, but mostly in the Indian press." European and Asian companies are also stepping it up, deputy company chief Mikhail Popov has said.
