Technip inks Yamal LNG contract

PARIS, May 15 (UPI) -- French energy services company Technip said Thursday it secured a contract to help build a liquefied natural gas terminal in Russia's Yamal Peninsula.

The French company said it landed a "very major contract" for engineering, procurement and construction for a liquefied natural gas facility from a joint venture led by Russian independent gas producer Novatek.

The Yamal LNG facility will be able to process as much as 16.5 million tons per year once it goes into service in 2017.

Technip said the Yamal project will be among the largest in the world. No value of the contract was given.

Last year, Novatek announced with French energy company Total it made a decision to develop the Yamal LNG facility in the Far North of Russia. The project will draw from the South-Tambeyskoye natural gas field.

The project includes the construction of sea port infrastructure and an international airport. As many as 16 ice-class carriers will be designated to ship LNG year-round to global consumers.