Economy
Mikhelson:  We are planning to launch the first line of Yamal LNG in late 2017
© RIA Novosti. Sergey Guneev

Mikhelson: We are planning to launch the first line of Yamal LNG in late 2017

The first line of the Yamal LNG plant will be launched in late 2017, as planned, Chairman of the Board and co-owner of Novatek Leonid Mikhelson said during a meeting with President Vladimir Putin, RIA Novosti reports.

"The planned date for commissioning the first line is late 2017," he said.

According to Mikhelson, 68 percent of the plant has been built, including 85 percent of the first line.

"We will be launching it [the first line of Yamal LNG. — Ed.] late next year. I think exactly 12 months from now we'll invite you to watch the filling of the first tanker," he added.

The Yamal LNG project provides for the construction of a plant capable of producing 16.5 million metric tons of liquefied natural gas a year. The facility will use the resources of the Yuzhno-Tambeyskoye gas field. The Yamal LNG shareholders are Novatek (50.1 percent), Total (20 percent), CNPC (20 percent) and the Silk Road Fund (9.9 percent).