Tag Archives: Russia

Novatek owns a 50.1% stake in Yamal LNG. France’s Total and China National Petroleum Corp each control 20%. while China’s Silk Road Fund owns 9.9%.

The US earlier this year threatened to impose fines on EU firms that invested in the pipeline.

Rising U.S. production helped fuel a slump in prices.

Moscow agreed to contribute around 0.3 million bpd to the cuts and Russian state and private companies are sharing the burden on a pro-rata basis.

Russia is the producer everyone is watching ahead of the OPEC meeting.

Saudis want production cuts extended through 2018. while Moscow wants flexibility.

Oil markets are already showing jitters over the OPEC meeting this week.

Vladimir Putin could send oil markets into a spin by pulling out of the planned extension to the current OPEC-led production cut.

OPEC. Russia and several other major producers have cut their combined output by about 1.8 million barrels per day since January.

At full capacity. the Yamal facility will be able to produce 16.5 million tonnes of liquefied natural gas a year.