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Russia's Yamal LNG chooses gas carriers - report

Reuters - UK Focus

MOSCOW, April 23 (Reuters) - The Yamal LNG project in Russia's Arctic has chosen Russian Sovkomflot, Japan's Mitsui OSK and Canada's Teekay LNG to build gas carriers worth $5 billion, a daily newspaper reported on Wednesday.

Vedomosti, citing a source close to Yamal LNG shareholders, said that the companies would build 16 LNG carriers and ship the supercooled gas.

A spokesman for Russia's Novatek (MCX: NVTK.ME - news) , which holds 60 percent in the $27 billion project, declined to comment. France's Total (NYSE: TOT - news) and Chinese company CNPC have 20 percent each.

The project is slated to start producing gas in 2016 with a view to supplying 16.5 million tonnes of the tanker-shipped fuel in 2018.

Novatek plans to ship its gas to Asia mostly via the Northern Sea Route as it brings estimated transportation costs down by two-thirds compared to the route via Europe. (Reporting by Vladimir Soldatkin; editing by Lidia Kelly and Keiron Henderson)