Russian Energy Firms Discuss Cooperation Saudi Aramco Chief
The head of Russian oil giant Rosneft, Igor Sechin, and Saudi Aramco Chief Executive Amin Nasser held talks in Moscow on Friday on areas for cooperation, Rosneft said.Rosneft, the world's largest-listed oil producer by output, said in a brief statement that they "discussed a wide range of issues related to mutual interests and prospects for cooperation between Rosneft and Saudi Arabia".Nasser had said in an earlier statement during his visit that Aramco's relationship with Russia would grow with the projects in which they were cooperating.Gazprom Neft…
Putin Says US LNG Uncompetitive in Europe
Russia's President Vladimir Putin said on Wednesday that liquefied natural gas (LNG) from the United States was uncompetitive in Europe.Putin said at the Russian Energy Week in Moscow that U.S. LNG was 30 percent more expensive compared to Russian gas that Moscow supplies to Europe via its pipelines.(Reporting by Dmitry Zhdannikov and Denis Pinchuk; Writing by Andrey Kuzmin; Editing by Susan Fenton)
Russia's Novatek Signs LNG Agreement with Japan's JOGMEC
Russia's Novatek said on Monday it had signed a framework agreement with Japan Oil, Gas and Metals National Corp (JOGMEC) to cooperate on Novatek's liquefied natural gas (LNG) projects in the north of Russia."The parties agreed to explore opportunities to cooperate on Novatek's projects in the Yamal and Gydan peninsulas, including the Arctic LNG 2 project, on developing a regular transport link via the Northern Sea Route for LNG deliveries to the Japanese and Asia-Pacific markets," the statement said.Novatek controls the Yamal LNG project, in which France's Total along with China's CNPC and the Silk Road Fund are minority shareholde
Russia's Rosneft More Than Triples Q2 Net Profit
Russia's Rosneft more than triples Q2 net profit, shares hit recordRussia's largest oil producer Rosneft said on Tuesday its second-quarter net profit more than tripled to 228 billion roubles ($3.6 billion) on higher production and prices, pushing its shares to an all-time peak.Rosneft, in which Qatar is set to become the third-largest shareholder after the Russian state and BP, said its profit was also supported by a one-off gain from a share acquisition in an upstream joint venture and the revaluation of a stake in another joint venture.Headed by Igor Sechin…
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
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 Novak: OPEC+ Can Consider Returning Up to 1.5 mln bpd
Members of the OPEC+ oil production cut deal can consider returning up to 1.5 million barrels of oil per day (bpd) to the market gradually, as one of the possible options, Russian Energy Minister Alexander Novak told reporters on Thursday.Novak also said the gradual increase is possible from July 1, but the countries who joined the global oil production cut deal are yet to discuss all the terms. The OPEC and non-OPEC countries are meeting next week in Vienna.He added he discussed the gradual exit from the deal with Saudi Energy Minister Khalid al-Falih, in Moscow for the World Cup opening. "We in general support this...
Putin Says Nordstream 2 Pipeline Has Nothing to do with Politics
Russian President Vladimir Putin said on Friday that the Nordstream 2 pipeline project had nothing to do with politics and that he considered it exclusively a commercial project.Speaking at a joint news conference with German Chancellor Angela Merkel, Putin also said that Russia would still export some gas via Ukraine.Reporting by Denis Pinchuk Writing by Maria Tsvetkova
Rosneft, Eni Fail to Discover Oil at Black Sea Well
Russia's state oil company Rosneft and Italy's Eni did not make a commercial oil discovery in the Black Sea as the well they were drilling proved to be dry, a source close to the operations told Reuters on Wednesday. Rosneft chief executive, Igor Sechin, has partnered with a number of foreign companies to develop Russia's offshore regions, though western sanctions have forced some of its partners such as ExxonMobil to suspend projects. Sechin has counted on the Black Sea as an area with high potential and any…
Gazprom to Start Talks on Abandoning Contracts with Naftogaz
Russia's Gazprom said on Wednesday it would start talks on abandoning current gas supply and transit contracts with Ukraine's Naftogaz in the coming days. Gazprom had received from Naftogaz the confirmation on readiness to start such talks, it said. Reporting and writing by Denis Pinchuk
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
Eni Halts Drilling in Rosneft-led Offshore Project Over US Sanctions
Italian oil and gas group Eni has suspended drilling in the Black Sea in a Rosneft-led offshore project because of U.S. sanctions, the company's chairwoman said on Wednesday. "We asked authorisation to the U.S. and so we obtained the authorisation from the U.S. so we started to drill this well, but then now we have to stop because… sanctions are hitting this," Emma Marcegaglia said at the World Economic Forum in Davos. Reporting by Denis Pinchuk; Writing by Gabrielle Tétrault-Farber
Sistema: Detsky Mir Stake Sale Cancelled
Russian business conglomerate Sistema said on Wednesday the offering of Detsky Mir shares had been cancelled, after its stake in the country's largest toy retailer was frozen by court at the request of Rosneft. "Due to investor concerns triggered by hostile actions initiated by Rosneft and Bashneft resulting in court injunctions and arrest of all Sistema's shares in Detsky Mir, the previously announced offering can not be completed," it said in a statement. Sistema said on Tuesday it had sold a 5 percent stake in Detsky Mir for around $56 million…
Putin to Saudi Energy Minister: Buy Our Gas, Save Your Oil
Russian President Vladimir Putin offered Saudi Energy Minister Khalid al-Falih to buy Russian liquefied natural gas (LNG) in order to spare Saudi Arabia's oil, the Interfax news agency reported citing him as saying on Friday. "Buy our gas and you'll save oil," Putin told Falih after having given the order to start loading the first gas tanker with liquefied natural gas at the Novatek-led Yamal LNG project in the Arctic. "That's why I'm here," Falih replied. Reporting Denis Pinchuk; writing by Maria Tsvetkova
Putin Okays Loading Start at Yamal LNG
President Vladimir Putin on Friday launched the first loading of liquefied natural gas at the Novatek-led Yamal LNG project in the Arctic, which will further expand Russia's global energy reach. The Yamal project, which required investments of $27 billion, will allow Russia to fulfil a plan to double its share of the global LNG market by 2020 from around 4 percent now. The LNG was loaded onto the ice class tanker "Christophe de Margerie", named after the former head of France's energy major Total, who died in a plane crash in Moscow in 2014. Total holds a 20 percent stake in Yamal LNG.
Russia: Second LNG Plant in Arctic
Russia on Tuesday started production at its second liquefied natural gas plant, Yamal LNG, with the aim of shipping the first cargo on Dec. 8 from the remote Arctic port of Sabetta. Russia's No.2 gas producer 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. Russia, seeking to produce more than 70 million tonnes of LNG per year in its remote Arctic regions, for now has just one operational LNG facility, run by Gazprom and co-owned with Shell on the Pacific island of Sakhalin.
Novatek Aims to Launch Yamal LNG on Dec 8
Russia's Novatek has provisionally set Dec. 8 as the official launch date for its Yamal LNG plant, two sources with direct knowledge of the event planning told Reuters. Novatek's partners on the project are France's Total, the China National Petroleum Corp (CNPC) and China's Silk Road Fund. The project, on the Yamal Peninsula above the Arctic Circle, will be Russia's second LNG plant after Sakhalin-2 on the Pacific island of Sakhalin. At full capacity, the Yamal facility will be able to produce 16.5 million tonnes of liquefied natural gas a year, which it will ship to Europe and Asia. It is being built in three phases.
Gazprom's 2018 Investments Seen at $20.3 Bln
The investment programme of Russian gas giant Gazprom is seen at 1.2 trillion roubles ($20.3 billion) in 2018, Interfax said on Tuesday, citing a source familiar with the company's plans. Gazprom usually increases the funds it plans to spend in the course of the year. Gazprom said last month it had increased its investment programme for 2017 to 1.13 trillion roubles, or by 217.3 billion roubles, from the initial plan. ($1 = 59.1345 roubles) (writing by Denis Pinchuk, editing by David Evans)
Rosneft, NIOC Eye $30 Bln in Oil and Gas Projects
Russian oil producer Rosneft and the National Iranian Oil Company have signed a road map on the implementation of "strategic" projects in Iran with total investments worth up to $30 billion, Rosneft head Igor Sechin said on Wednesday. He said the deal paved the way for legally-binding documents to be signed within a year. Output from the joint project is seen plateauing at 55 million tonnes per year (1.1 million barrels per day), he said. It is not yet clear how the investments will be split between the two companies. (Reporting by Denis Pinchuk; writing by Vladimir Soldatkin; editing by Jack Stubbs)
Gazprom Expects No Changes to Key Projects from New US Sanctions
Gazprom said on Monday that new U.S. sanctions against Moscow would not result in the Russian gas exporter having to make changes to key projects, although they could cause delays. Several provisions of the sanctions law signed by U.S. President Donald Trump earlier this month target Russia's energy sector, which produces much of its foreign income, with new limits on U.S. investment in Russian companies. Last month Gazprom said the sanctions might delay some giant gas projects, including Nord Stream 2, Turkish Stream gas pipelines and deepwater, Arctic offshore or shale projects.
