Green Light for Arctic LNG 2
The $21.3 billion Arctic liquefied natural gas (LNG)-2 project on the Gydan Peninsula headed by the Russian largest independent natural gas producer Novatek won a green light on Thursday.The project will have a production capacity of 19.8 million tons per year (Mt/y) and is expected to export its first LNG cargo by 2023, the second and third train to start up by 2024 and 2026.Total has a direct 10% interest in Arctic LNG 2 alongside Novatek (60%)…
Novatek Wins Arctic Gas Field
Novatek said that its wholly-owned subsidiary Arctic LNG 1 has won an auction for a geological survey, exploration and production license for the subsoil area including the Soletsko-Khanaveyskoye gas field.The license is located on the Gydan peninsula in Yamal-Nenets Autonomous Region, said the natural gas producer in Russia.The license area has estimated hydrocarbon resources of 2,183 billion cubic meters of gas and 212 million tons of liquids…
Saipem Joins JV for Arctic LNG2 Project
Italian oil and gas industry contractor Saipem reached a deal on Friday to participate in a joint engineering venture for a liquefied natural gas (LNG) project in the west of Siberia.The subsidiary of Eni said in a press release that it has has reached an agreement with Technip France SA and NIPIgaspererabotka to participate in the Joint Venture for the realization of the Arctic LNG2 project.The project has been awarded by Arctic LNG2…
Mitsui, JOGMEC join Arctic LNG-2
Japanese trading house Mitsui & Co and state-owned Japan Oil, Gas and Metals National Corporation (JOGMEC) have signed a sales and purchase agreement with Russia’s Novatek for a 10% participation interest in the Arctic LNG 2 project.The share will be acquired through the Dutch Company, Japan Arctic LNG B.V., in which Mitsui has invested jointly with JOGMEC. The equity ratio of JOGMEC and Mitsui will be set at…
Novatek Wins New Russian Licences
Independent Russian gas producer Novatek and LNG operator Novatek has secured the right to explore on the Krasnoyarsk Territory.Russia’s largest LNG producer said in a press release that it has obtained five new licenses on the Krasnoyarsk Territory located in close proximity to its existing licenses on the Gydan Peninsula.Novatek -Yurkharovneftegas obtained the right for geological survey licenses for the Khalmeryahskiy…
Nuclear Container Ship Sets Sail to Arctic LNG2
The nuclear-powered, 260 meter long, 33980 tons deadweight 'Sevmorput' this week sailed from Murmansk to Arkhangelsk where it is to pick up more than 17,000 tons of construction goods.The lighter aboard ship (LASH) system carrier of FSUE Atomflot, the world’s only ship of its kind, will deliver thousands of tons of construction materials to the Arctic LNG 2 project in peninsula Gydan.At the port of Arkhangelsk, the ship will be loaded with pallets, containers and equipment.
Gazprom Neft Expands to Siberia
Russian oil producer Gazprom Neft has secured hydrocarbon exploration, development and production rights to the Leninsky license block in the Gydan Peninsula.The Leninsky license block is located in the Gydan Peninsula in the Taymyrsky district of the Krasnoyarsky Krai, bordered on one side by the Tazovsky district of the Yamalo-Nenets Autonomous Okrug and on the other by the Kara Sea.The total size of the block is 3,650 square kilometres.
Italy's Saipem Strikes Deal with Turkish Renaissance for Arctic LNG-2
Italian oil and gas industry contractor Saipem and Turkey's Ronesans signed a joint venture (JV) agreement for infrastructure construction for Russian Federation's Arctic LNG-2 project.Saipem said the contract for the construction of the project is worth EUR 2.2 billion (USD 2.5 billion).As leader of the JV, with a shareholding of 50%, Saipem’s portion of the total amount is therefore approximately 1.1 billion Euro…
Novatek Secures South-Leskinskiy License
Russia's largest independent natural gas producer PAO Novatek has secured a new exploration license on the Gydan peninsula.The seventh largest publicly traded company globally by natural gas production volume said in a press release that its unit Novatek-Yurkharovneftegas won the auction for geological survey, exploration and production license for the South-Leskinskiy subsoil license area on the Gydan peninsula…
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"…
Novatek Expects 50 pct Capex Growth in 2018, 2019
Russia's largest non-state gas producer Novatek expects capital expenditure to rise by around 50 percent in 2018 and 2019, as it pushes ahead with plans to increase liquefied natural gas production, a company official said on Thursday. Novatek Chief Financial Officer Mark Gyetvay said on a conference call that capital expenditure is seen rising to 60 billion roubles ($1 billion) per year in 2018 and 2019 from 40 billion roubles this year.
Saipem Looks to Novatek Arctic LNG 2 Participation
Italy's Saipem is likely to get a sub-contractor role in a new project to produce liquefied natural gas (LNG) in the Arctic by Russia's Novatek, one of Novatek's partners said. Novatek, Russia's largest non-state LNG producer, is aiming to produce as much LNG as the world's biggest exporter Qatar and is drawing up plans to build a second plant, known as Arctic LNG 2, on the Gydan Peninsula that juts into the Kara Sea. Production is due to start in 2022-2023.
Saipem Looks to Novatek's Arctic LNG 2 Project Role
Italian energy contractor Saipem is expected to get a contract to build gravity-based platforms to liquefy natural gas at the Arctic LNG 2 facility, the second project of its kind by Russian gas producer Novatek , four sources said. Aiming to become as big as Qatar by LNG volumes produced, Novatek is drawing up plans to build its second LNG plant which it intends to locate on the Gydan Peninsula that juts into the Kara Sea. Reporting by Katya Golubkova and Denis Pinchuk
Novatek Aims to Topple Qatar from LNG Top Spot
Russian gas producer Novatek aims to topple Qatar as the world's biggest exporter of liquefied natural gas as it gets closer to completing its first LNG project, a top executive said, batting away concerns about U.S. sanctions on the sector. The country's largest non-state gas producer is expected to start exporting LNG from the first phase of the Yamal project, situated far above the Arctic circle, towards the end of this year and may bring forward its final stage by six months, CFO Mark Gyetvay said.
Russia Ramping Up Arctic LNG Production
Russia may produce more than 70 million tonnes of liquefied natural gas (LNG) per year in its remote Arctic regions, the head of gas producer Novatek said on Wednesday. "The Gydan and Yamal peninsulas have a vast resource base that allows the production of over 70 million tonnes (of LNG); it is comparable to LNG production in Qatar", Leonid Mikhelson, the head and co-owner of Novatek told a conference. Novatek…
NOVATEK Gets Tanamskiy Subsoil License
PAO NOVATEK informed that its subsidiary OOO NOVATEK-Yurkharovneftegas won the bid for a geological survey, exploration and hydrocarbons production license for the Tanamskiy subsoil area for a term of 27 years. The auction resulted in a one-time payment for the subsoil use in the amount of 467 million rubles. The Company already owns significant resource base at the Gydan peninsula including Utrenneye, Geofizicheskoye and Ladertoyskoye fields.
Yamal LNG Over 50% Complete
Novatek deputy chairman and CFO Mark Gyetvay said the Yamal LNG project in Russia have now passed the 50 percent overall completion mark. Gyetvay noted that 100 percent of the Yamal LNG’s production capacity has been sold. Additionally, he confirmed the first cargo from Yamal LNG’s first train, which has passed the 65 percent completion mark, will be shipped during the second quarter of 2017. Gyetvay said Yamal LNG was "very competitive" with other LNG projects globally…
