Russia’s Novatek restarted earlier this week fuel processing at its complex on the Baltic Sea damaged last month in a suspected Ukrainian drone attack, industry sources told Reuters on Wednesday. Novatek’s export terminal and processing site at Russia’s Ust-Luga port on the Baltic Sea was damaged in January by what …
Read More »Russia’s Arctic LNG 2 will not Start Shipments until March
Novatek, Russia’s largest producer of liquefied natural gas (LNG), will start loading first cargo from the Arctic LNG 2 plant no earlier than March, Russia’s Kommersant daily reported on Thursday, citing anonymous sources. Russian Deputy Prime Minister Alexander Novak has earlier said the first shipment would happen in February, but, …
Read More »Russia’s Novatek Sets up China Office to Market Gas amid Sanctions
Russian natural gas producer Novatek is building a new China-based team to explore marketing the fuel, sources familiar with the plans said, as U.S. sanctions thwart plans for exports from its new multi-billion dollar Arctic project. The move illustrates Russian energy companies’ continued pivot to Asia, especially China, after the …
Read More »Novatek’s Baltic Terminal Attacked by Long-Range Drones from Ukraine
Ukrainian forces conducted a drone attack on Russia’s largest Baltic port over the weekend. The operation, which used two long-range drones, resulted in a massive fire at Novatek’s gas terminal with all staff evacuated. Four tankers were moored at the port at the time of the attack. They quickly left …
Read More »Russia’s Novatek Starts Arctic LNG 2 Project amid US Sanctions
Russia’s biggest liquefied natural gas producer began production at its Arctic LNG 2 project — despite US sanctions — in a move that could provide some relief to the tight global market for the fuel. The first train of the Novatek PJSC-led Arctic LNG 2 project “has actually started operating,” …
Read More »China to Seek Rare Exemption from Sanctions on Russia’s Latest LNG Project
Chinese state energy giants plan to ask the United States for exemptions from the fresh sanctions on Russia’s Arctic LNG 2 project in a rare request to the U.S. as LNG deliveries could be threatened, Bloomberg reported on Friday, citing sources familiar with the issue. The U.S. imposed last month …
Read More »Russia’s LNG Export Plans Suffer Setbacks due to Sanctions
Potential contract cancellations for the construction of ice-class LNG carriers and U.S. sanctions on the latest Russian LNG export project could hamper Russia’s plans to boost LNG sales now that its pipeline route to Europe is largely cut off. There aren’t enough ice-class LNG tankers built to carry LNG from …
Read More »China to Supply Key Turbines to Novatek’s Arctic LNG 2
China continues to fill the technology gap left by the exit of western companies from Russia’s Arctic energy projects. For the past year Novatek has been looking to procure crucial gas turbines for its Arctic LNG 2 project. Originally American company Baker Hughes had been slated to provide the equipment …
Read More »Novatek Open to Indian Rupee Payments for New LNG Deals
Russian gas company Novatek is open to accepting payments in Indian rupees for any LNG term deal it signs with Indian gas entities, its chairman Leonid Mikhelson said on the sidelines of the Indian Energy Week on Feb. 6. Novatek is in talks with state-owned gas utility GAIL and other …
Read More »TotalEnergies to Buy 19.4% of Its Shares from Russian Energy Giant Novatek for $3.7 Billion
France’s TotalEnergies will buy 19.4% of its shares from Russian energy giant Novatek for $3.7 billion, the company said. TotalEnergies will fire two of its representatives from Novatek’s board of directors and will no longer include income from its investment in Novatek in its financial statements. The move will also …
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