The Spanish company GNF has signed a contract to buy 2.5mn tons of LNG per annum from Yamal LNG, Vedomosti has reported. The first deliveries are scheduled for 2017.
The contract was concluded for 25 years so deliveries will total 80bn cu.m., and the deal will be worth over $30bn at current prices.
GNF will be buying Russian LNG for the first time. This will be one of the biggest deals, covering some 10% of Spain’s market. Spain is the largest consumer of LNG in the EU (70% of gas consumption), Lenta.ru has reported.
SOURCE: Vslukh, 2013