Yamal Trade, a subsidiary of Russia's Yamal LNG, has signed a contract with Fluxys LNG for transshipment of up to 8 million tons of liquefied natural gas (LNG) per year at the port of Zeebrugge, Belgium.
The 20-year contract will support year-round LNG deliveries from the Yamal Peninsula to Asia-Pacific markets, the two companies said on Friday.
During Arctic summer, Yamal LNG will deliver its LNG to markets in Asia-Pacific via the Northern Sea Route using ice class ARC7 LNG tankers. Throughout the rest of the year, the Arctic LNG tankers will transit via the Zeebrugge LNG terminal, where Fluxys LNG will provide services to transship LNG onto conventional vessels which will complete deliveries via the Suez Canal.
"As the Yamal LNG Project is progressing well, following the schedule, signature of this agreement marks another important step in the life of the Project," commented Evgeniy Kot, general director of Yamal LNG. "A transshipment platform in Northwest Europe is a key element to our transportation and logistics arrangement. A contract with Fluxys LNG, an experienced and reliable partner, will secure the LNG supply chain for our buyers."
"Thanks to a long-term agreement with such an ambitious LNG supplier we will embark on a new considerable investment for the terminal development. With a transshipment capacity at the terminal of 8 million tonnes of LNG per annum, the port of Zeebrugge will see a significant increase in ship movements," added Pascal De Buck, Fluxys Belgium CEO.
Fluxys LNG plans to construct a fifth storage tank and additional process facilities at the Zeebrugge LNG terminal to support its transshipment services.