Total announces approval of Yamal LNG project Total announces the final investment decision to develop the onshore Yamal LNG project in Russia. Total holds a 20% direct interest in the project which will develop reserves greater than 5B barrels of oil equivalent. The Yamal LNG project consists of an LNG plant with a capacity of 16.5M tons per year and represents a total capital expenditure of 27B dollars, as estimated by the operator. Yamal LNG is currently owned by Novatek, with 80%, and Total. In September, Novatek and China National Petroleum Corporation concluded an agreement whereby CNPC is expected to acquire a 20% equity share in Yamal LNG.
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