Russia extends deadline for Exxon to sell Sakhalin-1 stake to 2026 in a decree
On Monday, Russian President Vladimir Putin issued a decree extending by one year the period of sale for Exxon’s share in Russia’s Sakhalin-1 gas and oil project until January 1, 2026. Exxon will take a $4.6 billion charge in 2022 for abandoning its development on the Pacific Island of Sakhalin.
Data shows that Russia's LNG exports from Jan-Nov are up by 5%.
LSEG reported on Monday that Russia's January-November LNG exports increased by 4.7 % compared to a year ago, reaching 29,1 million metric tonnes. Just over half of these were shipped to Europe. In the first 11 month of this year, Europe imported around 14.7 millions tons of Russian exports. This is 51% of all Russian exports.
Gazprom's Q3 losses are due to a one-time tax, but the company's 9-month earnings have risen.
Gazprom, Russia’s largest gas producer reported a loss in the third quarter 2024 of 53 billion Russian roubles (US$492,5 million), due to a 20% increase in profit tax rates expected in 2025. In the same period in 2023, the company earned a profit worth 529 million dollars.
Tokyo Gas president: Asset sales will boost capital efficiency by Tokyo Gas
Tokyo Gas wants to increase capital efficiency through the sale of underperforming assets including real estate. This was announced by its president on Thursday following disclosures that activist investor Elliott Management had invested 5% in Tokyo Gas. Elliott took a 5.03% share in Tokyo Gas earlier this month.
JERA Japan says sanctions against Gazprombank will not affect its LNG supply
JERA's president stated that the new U.S. sanction on Gazprombank will not affect its purchase of liquefied gas from Russia's Sakhalin-2 Project, because it does no use the lender to settle payments. Last week, the U.S. imposed sanctions on Russia's Gazprombank as part of an effort to punish Moscow for its invasion in Ukraine.
Japan will take all necessary steps to ensure Sakhalin-2 LNG supplies from Russia.
Japan's Industry Minister Yojimuto announced on Friday that it will take every measure to ensure a steady supply of liquefied gas from the Sakhalin-2 Russian project in response to new U.S. Sanctions. Treasury Department announced that the United States had imposed new sanctions against Russia's Gazprombank, on Thursday.
Data shows that Russian LNG exports in Jan-Oct are up by 6%.
LSEG data on Friday showed that Russia's January-October LNG exports increased by 6% compared to a year ago, reaching 26,4 million metric tonnes. Just over half of these were shipped to Europe. The data show that the October supply rose 10% over September, to 2,97 million tons. This is a record monthly volume for this year.
Ifx: Japan is the top buyer of LNG from Sakhalin 2 in Russia
Interfax reported that a senior manager of the Sakhalin 2 plant in Russia said on Thursday that Japan was currently the largest importer of LNG from Russia, accounting for 57.5% its exports. Since the beginning of Russia's conflict with Ukraine, Japan has decreased its…
Gazprom increases first-half gas production by 16%
Gazprom, the Russian gas company, announced on Monday that its output of natural gas increased by 16% in the first half of 2024 compared to the same period last year. This continued the recovery after the previous year's record-lows. Gazprom's oil arm Gazprom Neptune is included in the production figures.
Preliminary data shows that Japan's LNG imports increased by 49% from Russia in August, while US supplies decreased.
The preliminary data from Wednesday showed that Japan's imports of liquefied gas (LNG), from Russia, increased by 49% to 0.59 millions metric tons in August, while supplies from the U.S. decreased by 41% to a total of 0.38 million ton, compared to last year. The data revealed that the total LNG imports by Japan…
India's ONGC wants US approval for two projects in Venezuela
Rajarshi Gupta, the managing director of ONGC Videsh Ltd in India, said that the company is looking for U.S. permission to run two projects to increase production in Venezuela. Gupta said that ONGC wants to obtain a license similar to the one granted to U.S. oil giant Chevron for operating oil fields in Venezuela.
Japan to Promote Gas, LNG, Hydrogen During G7 Presidency
Japan will stress the importance of investment in natural gas, liquefied natural gas as well as cleaner fuels such as hydrogen and ammonia during its presidency of the G7 this year, a source said, but would keep it clean to meet 2050 carbon neutral goal.Japan, president of the rich-country grouping for 2023…
Russia's Medvedev Says Oil Could Hit Up to $400 a Barrel if Japanese Proposal Adopted
Russia's former president Dmitry Medvedev said on Tuesday a reported proposal from Japan to cap the price of Russian oil at around half its current level would lead to significantly less oil on the market and could push prices above $300-$400 a barrel.Commenting on the proposal…
Asian LNG Prices Steady on Ample Supply despite U.S. Cargo Cancellations
Asian spot liquefied natural gas (LNG) prices remained steady this week on a continued stream of spot supply even though traders continued to cancel cargoes loading from the United States due to poor economics. The average LNG price for August delivery into northeast Asia…
India to Buy Russian Crude Oil
Russian oil and gas giant Rosneft has signed a contract with India’s largest fuel retailer Indian Oil Corporation (IOC) for supply of 2 million tonne (MT) crude oil to India by end 2020.The Moscow-headquartered integrated energy company said in a press release that the…
Europe Dominates LNG Import Story in 2019
Global liquefied natural gas (LNG) production jumped in 2019, triggering oversupply and low prices that are expected to persist in 2020. Initial full-year data from LNG Edge shows exports at 355 million tonnes in 2019, up from 314.9 million tonnes in 2018.This represents the largest ever increase in production.While East Asian…
GasLog Sees Tighter LNG Shipping Market
GasLog, an international owner, operator and manager of liquefied natural gas (LNG) carriers, is predicting a tighter LNG shipping market, as increasing United States LNG output combines with a seasonal uptick in demand for gas, resulting in rising demand for shipping…
Gazprom, Kogas for Tighter LNG Cooperation
Russian oil and gas company Gazprom Neft has announced that a working meeting has been held between Alexey Miller, Chairman of the Gazprom Management Committee, and Hee-Bong Chae, President and Chief Executive of KOGAS.The meeting participants reviewed the state and prospects of cooperation between the companies…
Russian Pipeline: Bringing Gas and Building Trust
A discussion over energy at the summit last week between Russian President Vladimir Putin and North Korean leader Kim Jong-un has excited the government in South Korea, where the government is desperately looking to entice the North Koreans to come in out of the cold.Among…
SCF: Ten Years of LNG Shipping from Sakhalin-2
Russian maritime shipping company specializing in petroleum and LNG shipping Sovcomflot (SCF Group) has just celebrated the tenth anniversary of the start of LNG shipments from the Sakhalin-2 project.In March 2009, SCF’s LNG carrier Grand Aniva loaded the first shipment of Russian LNG produced at the Sakhalin-2 plant.
