Sibur Says New Gas Chemical Complex Will Cost up to $8 Bln
Russian petrochemical company Sibur said its plans to build a gas chemical complex in Russia's Far East will require preliminary investments of up to $8 billion and it is still looking for Asian partners.Sibur said a year ago that it had been in talks with a number of Chinese investors about participating in the project to build the complex in Amur.Sibur's Chief Executive Officer Dmitry Konov told Reuters in a recent interview, that the company, Russia's largest petrochemicals company…
Russia's Yamal LNG Ships First LNG Cargo to Spain's Fenosa
Russia's Yamal LNG plant said on Thursday it had shipped a first gas cargo to Spain's Gas Natural Fenosa.According to the 24-year offtake contract, Yamal, controlled by Russia's Novatek, is set to ship 2.5 million tons of LNG annually, which equals more than 3 billion cubic meters of natural gas.Russian pipeline gas is not supplied to Spain.Reporting by Denis Pinchuk
Russia's Novatek, S.Korea's Kogas Sign LNG Agreement
Russian energy company Novatek and South Korea's state-run Korea Gas Corp (KOGAS) signed an agreement on liquefied natural gas (LNG) cooperation after talks between Russian President Vladimir Putin and his South Korean counterpart, Moon Jae-in, on Friday.After the signing of the agreement, Putin said South Korean firms may join Novatek's Arctic LNG project. Reporting by Denis Pinchuk and Polina Nikolskaya; Writing by Tom Balmforth
Novatek, Sovcomflot Pact for LNG Shipping from Yamal LNG
Leonid Mikhelson, Chairman of the Management Board of PAO Novatek and Sergey Frank, General Director of PAO Sovcomflot have signed a Strategic Cooperation Agreement on developing a strategic partnership to transport hydrocarbons (LNG and gas condensate) produced at Yamal LNG, Arctic LNG 2 and other Arctic projects of the Company. “Our unique partnership with Sovcomflot will optimize our LNG transport model through the Arctic zone by efficiently and effectively using ice-class tankers” according to Novatek's Chairman of Management Board Leonid Mikhelson.
Yamal LNG Commissioned in Record Time
Russia’s PAO Novatek has launched a second liquefied natural gas (LNG) production train at its plant on the Yamal peninsula ahead of schedule.Russia's largest independent natural gas producer announced that "Yamal LNG has launched the second LNG train and dispatched the first cargo from this unit. The second LNG train commissioned six months ahead of its original schedule, and combined with the first LNG train launch in December 2017, has achieved the commissioning of the first…
Ice-Breaking LNG Carrier Vladimir Rusanov First Call at PetroChina LNG Jiangsu Terminal
Mitsui O.S.K. Lines (MOL) announced that the Ice-Breaking LNG Carrier "Vladimir Rusanov", which is jointly owned by MOL and China COSCO Shipping Corporation Limited for the Yamal LNG project, made its first call at PetroChina LNG Jiangsu Terminal in China on 17 July.A ceremony celebrating this milestone was held on 19 July.At the end of March 2018, the vessel started transportation services for LNG produced by the Yamal LNG plant at Sabetta port in Russia. For its latest voyage…
Novatek Spuds First Well at North-Obskiy
PAO Novatek announced that its subsidiary OOO Arctic LNG 3 commenced drilling of the first well at the North-Obskiy license area located in the shallow waters of the Ob Bay.The initial well is drilled using a jack-up floating drilling rig “Amazon” leased from “Gazprom flot”. The drilling process is based on zero discharge principle, whereby all of the waste products are collected and transported 125 km to Sabetta onshore base."We commenced drilling our first well at the North-Obskiy license area characterized with significant geological potential and favorable location in terms of logistics…
Total to get 10 pct in Russia's Arctic LNG-2 Project
French energy major Total will get a 10 percent stake in the future Arctic LNG-2 project led by Novatek, Novatek Chief Executive Leonid Mikhelson said on Thursday. The entire project has been valued at $25.5 billion, Mikhelson told reporters, adding the deal was expected to close in the first quarter of 2019. Total has an option to increase its stake in Arctic LNG-2 by a further 5 percent if Novatek decides to reduce its stake below 60 percent, Mikhelson said. Novatek currently plans to keep its stake in the project at 60 percent, he added. Total owns almost 20 percent of Novatek shares.
Lebanon Begins Offshore Oil & Gas Exploration
Lebanon's search for its first oil and gas reserves began on Tuesday after authorities approved an exploration plan submitted by a consortium of France's Total , Italy's Eni and Russia's Novatek. Energy and Water Minister Cesar Abi Khalil also said in a televised statement that Lebanon hoped to launch a second offshore licensing round by the end of 2018 or early 2019. In February, Lebanon signed its first offshore oil and gas exploration and production agreements with the Total-Eni-Novatek consortium for offshore Blocks 4 and 9.
LNG Prices Climb on Limited Supply
Asian spot liquefied natural gas (LNG) prices rose this week to their highest since February as buying interest from China remained firm and as supply is expected to be limited during maintenance in August.Spot prices for July delivery in Asia were at $9.60 per million British thermal units (Btu) this week, gaining 40 cents from the previous week and are at the highest for this time of the year since 2014.Higher oil prices had been deterring some buyers from snapping up cargoes in the spot market in recent weeks but some of them may now need to cover their requirements promptly…
Thick Sea Ice Blocks Exports from Yamal LNG Plant
Thick sea ice is impeding Arctic shipments of liquefied natural gas (LNG) from Russia's newly-built export plant in Yamal, Russia's state-run nuclear-powered tanker company Rosatomflot said.Unseasonably severe ice conditions are also clogging routes to Asia through the Northern Sea Route (NSR), leading to the extension of the winter-spring navigation of Atomflot's nuclear ice-breakers, it said.The Novatek-operated LNG facility's fleet of LNG ice-breaking tankers aim to deliver gas to Northeast Asia along the NSR in summertime when ice sheets thin.In winter…
Novatek Gas Output Down in 2017
Natural gas output at Russia's largest non-state gas producer Novatek declined by 6.3 percent to 63.39 billion cubic metres (bcm) in 2017, the company said on Tuesday. Production of liquids, such as gas condensate and crude oil, fell by 5.4 percent from 2016 to 11.77 million tonnes last year, Novatek said. Reporting by Oksans Kobzeva; writing by Vladimir Soldatkin
U.S.-bound LNG Tanker with Russian LNG Diverted
A liquefied natural gas (LNG) tanker probably carrying some supply from a Russian export project has been diverted from the United States, ship-tracking data shows. Engie's Gaselys LNG tanker was diverted on Friday from the Everett terminal in Boston, Massachusetts, where gas prices have tapered off since spiking during a cold snap. The vessel picked up the cargo from storage tanks at Britain's Isle of Grain import terminal in early January. The delivery to the United States was unusual because the LNG at Isle of Grain's tanks also contained some supply from Russia's new Yamal export plant.
Novatek to Launch Second Yamal LNG Line in September
Russia's largest non-state natural gas producer Novatek will launch a second line at its Yamal LNG plant in September, the RIA news agency cited the company as saying on Wednesday. Novatek owns a 50.1 percent stake in Yamal LNG. France's Total and China National Petroleum Corp each control 20 percent, while China's Silk Road Fund owns 9.9 percent. Yamal LNG started producing liquefied natural gas in December. (Reporting by Vladimir Soldatkin; Writing by Polina Ivanova; Editing by Jack Stubbs)
Israel, Lebanon Argue over Offshore Block, Beirut Slams 'Threat'
Israel described as "very provocative" on Wednesday a Lebanese offshore oil and gas exploration tender in disputed territory on the countries' maritime border, and urged international firms not to bid. Lebanese President Michel Aoun, whose country considers Israel an enemy state, described the comments as "a threat to Lebanon". "When they issue a tender on a gas field, including Block 9, which by any standard is ours ... this is very, very challenging and provocative conduct here," Israeli Defence Minister Avigdor Lieberman said.
Lebanon Will Use Energy Block Disputed by Israel
Lebanese Energy Minister Cesar Abi Khalil vowed on Friday there would be full exploration in offshore energy Block 9, part of which lies in waters disputed by neighbouring Israel. Lebanon said on Friday it had signed its first offshore oil and gas exploration and production contracts for two energy blocks. A consortium of France's Total, Italy's Eni and Russia's Novatek signed contracts for two of the five blocks that Lebanon put up for tender. Israel and Lebanon have exchanged threats and condemnation over the tender, amid rising tensions over territorial and marine boundaries.
Novatek Eyes Saudi Aramco as a Partner in Arctic LNG-2
Novatek is interested in Saudi Aramco joining the Arctic LNG-2 plant as a partner, the Russian gas producer's chief executive Leonid Mikhelson said on Thursday. Novatek, Russia's largest non-state natural gas producer, and Saudi Aramco signed a memorandum on cooperation last week. The LNG-2 project aims to start producing liquefied natural gas from 2022-2023. Reporting by Vladimir Soldatkin and Oksana Kobzeva; Writing by Denis Pinchuk
Novatek Delivers its First LNG Cargo to India
The Russian natural gas producer, Novatek, has confirmed that it delivered its first shipment of liquefied natural gas (LNG) produced by the Yamal LNG project to India on 27 March. "The LNG was produced by the Yamal LNG project, led by the Russian company, and marks the first ever delivery of Russian Artic LNG to the country," said the company. The cargo was shipped through the company’s subsidiary, Novatek Gas and Power Asia. Novatek’s Deputy Chairman of its Management Board Board Lev Feodosyev said: "One of our core priorities enumerated in the Company's Corporate Strategy up to 2030…
Novatek: Yamal's First Train Plans Maintenance in May
Russia's Novatek said on Friday the first train of its Yamal LNG plant will suspend production some time in May due to planned maintenance.The company also plans to choose partners for a liquefied natural gas complex in Russia's Kamchatka region in coming months, Chief Executive Leonid Mikhelson told reporters.(Reporting by Oksana Kobzeva, writing by Maria Kiselyova Editing by Alexander Smith)
Lebanon Prepares for Second Offshore Oil and Gas Licensing Round
Lebanon's energy minister said on Tuesday he had asked the country's petroleum authority to start preparing for a second oil and gas offshore licensing round, but did not give a timeline for when it might happen.Lebanon in February signed its first offshore energy exploration and production agreements for two of Lebanon's 10 offshore blocks with a consortium of France's Total, Italy's Eni and Russia's Novatek.Energy and Water Minister Cesar Abi Khalil told an oil and gas conference in Beirut on Tuesday that he had asked the Lebanese Petroleum Administration (LPA) last week to begin preparation