China National Offshore Oil Company, or CNOOC, announced it has signed a deal worth $1.6 billion to build equipment for the Yamal LNG project in Siberia. The project is currently scheduled to begin in 2017 and annual capacity per LNG train is expected to be 5.5 million tons – all of which has already been signed to contracts.

Source: Total SA

The Yamal LNG project is a $27 billion joint venture between China’s National Petroleum Company (CNPC) and Russia’s Novatek, the largest and second-largest energy companies in each respective country.Nov...

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