French Total started LNG exports from the third train of the Yamal LNG project in Russia, a year ahead of its initial schedule, Total said on Wednesday.
The company said this early achievement is within the original budget.
The Yamal plant has now reached its full planned capacity of 16.5 million tons per year less than a year after the first shipment of LNG from the project in December 2017.
Furthermore, this start-up occurs one week after Yamal LNG shipped its one hundredth LNG cargo.
"We are proud of the successful launch of all three LNG trains of the Yamal LNG project less than a year after the start-up of the plant. This constitutes an unprecedented achievement for the industry," commented Patrick Pouyanne, Total chairman and CEO.
The Yamal LNG Company, owned by Russian independent gas producer Novatek with a majority stake of 50.1 percent, operates the Yamal LNG project, while Total and CNPC each hold a 20 percent share and the Silk Road Fund has the remaining 9.9 percent interest.
One of the biggest LNG projects in the world, Yamal LNG is developing reserves of 4.6 billion barrels of oil equivalent from the giant onshore South Tambey gas and condensate field, located on the Yamal Peninsula.
The project includes an integrated gas treatment and liquefaction facility with three initial trains each with a capacity of 5.5 million tons per year, storage tanks, and with port and airport infrastructure.
Yamal LNG’s production is sold under long-term contracts in the Asian and European markets, predominantly under oil-indexed pricing formulas.
By Murat Temizer