Port of Sabetta construction
The port is projected to be a hub for shipment of hydrocarbons extracted from the Yamal-based oil deposits. The Russian Government had earmarked RUB 18.75 billion for the port construction in 2012-2014. Of the sum, RUB 1.5 bn were set aside for 2012, RUB 8.5 bn will be invested in 2013 and RUB 8.75 bn - in 2014. Experts estimate that by 2025 cargo throughput at the port of Sobetta will likely reach 25 million tonnes of crude oil and gas condensate a year.
The port of Sabetta construction is carried out in the framework of the Yamal LNG project, which is implemented by JSC Novatek in conjunction with the French Total. The Yamal LNG project includes the creation of facilities for production, storage and shipment of liquefied natural gas (LNG) from Yuzhno-Tambeyskoye field. Proved reserves of Yuzhno-Tambeyskoye field total 418 billion cbm of gas and 15 million tonnes of condensate. Proved plus probable reserves are estimated at 802 billion m2 of gas and 31 million tonnes of condensate. The project also includes the construction of LNG plant of capacity of 15 million tonnes per year and production of up to one million tonnes of condensate. The facility’s Phase 1 start-up is scheduled for 2016.