The world must adhere to climate goals, despite what the US and UK envoys say
Britain's climate ambassador said that despite the United States pulling out, the world must continue to pursue the reductions in greenhouse gas emissions outlined in Paris Agreement. The UK is also moving forward with its goals. Last month, Donald Trump, the president of the United States, withdrew…
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…
Sibur Targets LPG Exports Growth, Eyes Asia
Russia's largest petrochemical producer, Sibur plans to boost exports of liquefied petroleum gas (LPG) in 2016-2020 before an increase in domestic demand, Sibur's director general Dmitry Konov told reporters. Sibur, in which Kirill Shamalov, son of an old friend of Russian President Vladimir Putin…
Novatek CEO: Sanctions Hurt Yamal LNG, Upbeat on Plans
International sanctions have undermined the ability of Russia's Yamal LNG project to raise necessary funds but it will be launched as scheduled, Leonid Mikhelson, head of the plant's main shareholder, said in a televised interview on Tuesday. The company, co-owned by Gennady Timchenko, an ally of President Vladimir Putin, was placed under U.S.
Novatek CEO: Investments in Yamal LNG Project Reached $15 bln
Total investments in the Novatek-led Yamal LNG project have reached $15 billion, Leonid Mikhelson, Novatek chief executive, told Russian President Vladimir Putin on Monday. He added that Chinese investors had provided around $5 billion and French partners around $3.7 billion, while around $2.3 billion came from Russia's National Wealth Fund.
Second Tranche from Russian Fund for Yamal LNG Moved to Q3
Russia's Novatek-led Yamal LNG project is expected to get a second tranche from the state's National Wealth Fund in the quarter, Russian Deputy Economy Minister Nikolai Podguzov told reporters on Thursday. Novatek has won approval from the government to receive a total of 150 billion roubles ($2.8 billion) for its Yamal LNG project.
Gazprom Neft says No Plans to Ask for Aid from Rainy-day State Fund
Gazprom Neft, the oil arm of Russia's top natural gas producer Gazprom, has no plans to ask for money from the National Wealth Fund, the company's head said on Monday. Alexander Dyukov told reporters in Russia's second city of St. Petersburg that Gazprom Neft had not and did not plan to ask for support from the National Wealth Fund.
Rosneft Repays $7 bln in Debt
Russia's top oil producer Rosneft said on Monday it had met a $7 billion loan repayment, partially easing fears among investors that Western sanctions banning major Russian firms from access to European and U.S. capital could prompt mass defaults. Shares in the company rose 2.5 percent in morning…
Russia's Rosneft Asks For Over $48 b From State Wealth Fund
Rosneft, Russia's top oil producer hit by Western sanctions, has asked for more than 2 trillion roubles ($48.52 billion) from the National Wealth Fund, Finance Minister Anton Siluanov told reporters on Wednesday. The National Wealth Fund is one of Russia's two rainy day funds that collect windfall oil revenues.
Russia's Yamal LNG Project May Tap Wealth Fund in 2014
Russia's Novatek may get funds from the National Wealth Fund for its Yamal LNG project before the year-end, a minister said, as part of government plans to support sanction-hit companies. Russia's No.2 gas producer, co-owned by an ally of President Vladimir Putin, Gennady Timchenko, was put on the Western sanctions list over Moscow's role in the Ukraine crisis…
Novatek Bonds Could Carry 15-year Maturity
Russian Finance Minister Anton Siluanov said on Friday that a possible bond issue from Russia's second-largest gas producer Novatek, which could be bought by the country's National Wealth Fund, could carry a 15-year maturity. "We will receive (Novatek's official) request first and we will see. But it will be money for some 15 years…
Rosneft's Funding Request Considered by Russia
Sanctions-hit oil company Rosneft will be able to apply for money from a state wealth fund, Deputy Prime Minister Arkady Dvorkovich said on Tuesday, adding that the government had "on the whole" approved the company's investment programme. Rosneft's access to Western money has been restricted by…
Russia's Rosneft Seeks Government Cash - Newspaper
Igor Sechin, the head of Russian oil giant Rosneft, has asked the government to provide the company with 1.5 trillion roubles ($41.6 billion) to help the company weather western sanctions, the Vedomosti newspaper reported on Thursday. Under the plan, the state would spend money from its National Wealth Fund to buy Rosneft bonds…
