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Thursday, August 22, 2019

Natural Gas Producer News

(File photo: SCF Group)

Novatek to Open Third Line of Yamal Project in December

Russian natural gas producer Novatek plans to open the third line of its Yamal liquefied natural gas project in December, ahead of schedule, Chief Executive Leonid Mikhelson said on Tuesday.Novatek's Yamal terminal has been ramping up LNG shipments faster than expected after loading its first cargo in December 2017, with two trains now running at capacity.(Reporting by Oksana Kobzeva; Writing by Polina Ivanova; Editing by Louise Heavens)

Image: Novatek

Russia's Novatek Ships First LNG Cargo to Brazil

Russian natural gas producer Novatek has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project.A statement from PAO Novatek said that its wholly owned subsidiary, Novatek Gas and Power Asia Pte. Ltd. has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project. The cargo was delivered to the Bahia Regasification Terminal owned by Petrobras.“Our LNG marketing strategy aims to diversify our supply geography and customer base,” noted Leonid Mikhelson, Novatek’s Chairman of the Management Board.

Image: Novatek

Novatek, Rosatom Plan LNG-Powered Icebreaker Fleet

Russia’s natural gas producer and the operator of the giant Yamal LNG export project Novatek, has signed an agreement of intent with Russian state nuclear firm Rosatom to establish a joint venture (JV).The JV plans to establish a long-term partnership to jointly develop, finance and implement a project to create a liquefied natural gas (LNG)-fuelled icebreaker fleet.

Photo: Novatek

Novatek Signs Pact for Kamchatka LNG Transshipment Complex

Russia’s natural gas producer Novatek has signed an agreement of intent on implementing a project for the construction of a marine liquefied natural gas (LNG) transshipment complex in the territory of Kamchatka.PAO Novatek, the Ministry of the Russian Federation for the Development of the Far East and the Government of the Kamchatka Territory signed an agreement of intent on implementing a project for the construction of a marine LNG transshipment complex in the territory of Kamchatka.The Agreement provides for Novatek’s investment in the amount of approximately RR 70 billion.

The Venta Maersk loads containers in Vladivostok, Russia ahead of its Arctic voyage (© Sergei Skriabin / MarineTraffic.com)

Maersk Sends First Containership through the Arctic

A Maersk vessel loaded with Russian fish and South Korean electronics will next week become the first containership to navigate an Arctic sea route that Russia hopes will become a new shipping highway.The Arctic voyage by the 3,600 20-foot container capacity Venta Maersk is the latest step in the expansion of the so-called Northern Sea Route which is becoming more accessible to ships as climate change reduces the amount of sea ice.The brand new Venta Maersk, one of the world's largest ice-class vessels…

Eduard Toll (File photo courtesy Teekay)

Novatek Ships First LNG Cargo to China via Arctic

Russian natural gas producer Novatek delivered on Thursday the first ever liquefied natural gas (LNG) cargo to China via the Northern Sea Route (NSR) alongside the Arctic coast, which drastically cuts delivery time to Asian consumers.The shipments of LNG from Yamal LNG project via the NSR to China cuts transportation time and costs in comparison to other routes such as Suez Canal.Novatek said a ceremony was held to commemorate the arrival of LNG tankers Vladimir Rusanov and Eduard Toll with cargo capacity over 170…

© Wojciech Wrzesień / Adobe Stock

Cheniere Signs 15-year LNG Supply Pact with Trafigura

U.S. natural gas producer Cheniere Energy Inc said on Tuesday Singapore-based commodity trader Trafigura Pte Ltd would buy about 1 million tonnes of natural gas per year from its unit for 15 years, starting 2019. The agreement with Cheniere Marketing, LLC would help the Houston-based company to fund its expansion plans, Chief Executive Jack Fusco said. The company has been expanding its presence in Asia to benefit from the rising demand for liquefied natural gas from the region.

© Wojciech Wrzesien / Adobe Stock

US LNG Exports to Increase: EIA

U.S. Energy Information Administration (EIA)'s latest Short-Term Energy Outlook projects that the United States will export more natural gas than it imports in 2017. The U.S. has been a net exporter for three of the past four months and is expected to continue to export more natural gas than it imports for the rest of 2017 and throughout 2018. The nation’ status as a net exporter is expected to continue past 2018 because of growing U.S. natural gas exports to Mexico, declining pipeline imports from Canada, and increasing exports of liquefied natural gas (LNG). The U.S.

Photo: Yamal LNG

Daewoo's World's First Icebreaking LNG Carrier for Russia Launched

Daewoo Shipbuilding and Marine Engineering (DSME) launched on Friday the world’s first icebreaking liquefied natural gas (LNG) carrier at its Okpo shipyard in Geoje, South Gyeongsang. It was the first ship to be launched for Russia’s Yamal project and part of a 15-ship order that is supposed to help turn around the troubled shipbuilder. The SCF Yamal - first Arc 7 ice-classed LNG carrier classed for breaking through over 2 meters of ice, and can carry 170,000 cubic meters of liquefied gas.

Photo:  RasGas Company Limited

RasGas to Waive $1bln Penalty on LNG Deal

Qatar-based natural gas producer RasGas will not penalise Petronet LNG for lower offtake of the fuel, says a report by PTI. Qatar has agreed to waive $1 billion penalty on India for breaking a long-term LNG contract, and has also consented to change the pricing formula to reflect the slump in global energy rates. After months of intense negotiations, RasGas of Qatar has agreed to not to press for the $1 billion in penalty that Petronet LNG, India’s biggest import of liquefied natural gas (LNG), has to pay for buying only 68 per cent of the contracted 7.5 million tonnes this year.

Paragon Offshore’s jack-up rig M826 in position.

ISS Bags Tanzania's Paragon project

Inchcape Shipping Services (ISS) has been appointed by Paragon Offshore, Houston, as marine and logistic services provider for a new drilling campaign off the Songo Songo Islands, Tanzania – the first new commercial drilling project in Tanzania in a number of years. ISS is providing a range of services for Paragon Offshore including full husbandry, crew logistics, visa assistance and arranging marine and air charters. A leading provider of standard specification offshore drilling services…

BHP Shedding 100 HQ Jobs Amidst Commodities Rout

Global mining giant BHP Billiton intends to cut about 100 jobs at its Melbourne headquarters in coming years as it strives to lower overheads and streamline corporate operations amid a crash in minerals prices. BHP has reported double-digit price falls across all of its main commodities in fiscal 2015, which analysts expect will lead to a fall of around 40 percent in profit for the year. The job cuts will gradually see the number of staff in Melbourne drop to around 300 from 400 at present and a peak of 480, according to the company.

Russia's Gazprom receives prepayment from Ukraine for gas supplies

Russian natural gas producer Gazprom said on Saturday it had received a prepayment of $378.22 million from Ukraine for natural gas supplies, paving the way for the first shipments to Kiev since Moscow cut supplies in June. Ukraine's state energy firm, Naftogaz, said on Friday it had transferred the sum to Gazprom for December. A Gazprom spokesman confirmed the money had been received. In line with a deal signed by Naftogaz and Gazprom in October, flows to Ukraine from Russia, which were severed in a dispute over prices and debts…

Statoil CEO Helge Lund (Credit Statoil)

Statoil's Lund: Natural Gas is a Big Opportunity for Germany

Switching from coal to gas as the power sector is a significant opportunity to cut emissions. This alternative can save more than 50% of emissions per kilowatt-hour of electricity produced. “I think it is both timely and necessary for German to develop a plan for how natural gas can contribute to fulfilling the ambitions of the Energiewende (energy transition). Increasing the use of natural gas will be beneficial both for the German economy and for the climate,” Lund said. On June 24…

Russia Sacrifices Gazprom Profit for Politics in Ukraine

Russia's top natural gas producer, Gazprom, will eventually lose more than it gains from raising the gas price for Ukraine by 80 percent, analysts said on Friday, predicting Kiev would cut purchases and fail to pay in full. Gazprom on Thursday announced a price rise for Ukraine to $485 per 1,000 cubic metres, the second increase in three days. The $485 price is the highest of any Gazprom customer and compares with around $370 on average for clients in the European Union. Ukrainian Prime Minister Arseny Yatseniuk said the increase…

Chesapeake Plans to Cut Drilling Costs by $900M

Reuters - Chesapeake Energy Corp said it planned to cut drilling and well-completion costs by nearly $900 million in 2014 after reporting quarterly results that missed analysts' estimates. The No.2 U.S. natural gas producer, whose shares fell 3 percent in premarket trading, invested about $5.5 billion in drilling and completion activities in 2013. Chesapeake said earlier this month it would cut spending by 20 percent this year and sell assets to plug a $1 billion gap between operating cash flow and capital expenditure.

US Restrain China GofM Aspirations

CNOOC, China's largest offshore oil and natural gas producer, barred from outright opeation of recently acquired Gulf of Mexico oilfields. The oilfields were acquired by CNOOC through its US$15-billion takeover of Canadian firm Nexen. The state-owned oil giant's purchase of Nexen includes about 200 deep-water leases in the Gulf, however the company has surrendered operating control of them to quell US national security concerns, reports the South China Morning Post, noting that…