Yamal LNG: Ships First LNG Cargo
PAO NOVATEK announced today that Yamal LNG has shipped the first LNG cargo containing 170 thousand cubic meters. The first cargo was sold to PETRONAS LNG UK Limited (PLUK). LNG sales according to the long-term contracts will commence in April 2018. All LNG sales prior to that date will be …
Gazprom: Nord Stream 2 Project Staying on Track
The Gazprom Management Committee took note of the information regarding the progress of the Nord Stream 2 project. It was noted at the meeting that the project was going according to plan with support from Europe’s leading energy companies. Permits are currently being drawn up. National environmental impact assessment reports were submitted to the German, Danish, Finnish and Swedish authorities, with …
Novatek: Acquires OOO Chernichnoye from JSC Mangazeya
PAO NOVATEK announced today an agreement was concluded to acquire OOO Chernichnoye from Oil Company “Mangazeya” JSC. The transaction is expected to close in early 2018. OOO Chernichnoye holds the hydrocarbon exploration and production license for the Chernichnoye field located in close proximity to NOVATEK’s infrastructure. The license contains estimated …
LUKOIL: Starts Phase 2 Production Well Drilling on the Vladimir Filanovsky Field
LUKOIL finished most of the construction works at Vladimir Filanovsky field’s Phase 2 development facilities and started drilling of the first production well. The drilling is planned to be completed in early 2018. The Phase 2 facilities will allow to reach the stable designed production plateau of 6million tonnes per …
Bashneft and Rosneft: Sue Sistema for Damages
Bashneft and Rosneft, acting for the benefit of Bashneft as its shareholder, filed a lawsuit in Bashkortostan arbitration court seeking 131,639,012,421 rubles in damages from Sistema and Sistema-Invest. The amount of the lawsuit is the sum of dividends that the Defendants withdrew from Bashneft from 2009 through 2014, less taxes …
NOVATEK Acquires South-Khadyryakhinskoye and Eurotek
PAO NOVATEK announced today the acquisition of AO South-Khadyryakhinskoye and AO Eurotek from AR Oil&Gas B.V., joint venture of AO Neftegazholding and Repsol S.A. AO South-Khadyryakhinskoye holds the hydrocarbon exploration and production license for the South-Khadyryakhinskiy license area located in close proximity to infrastructure of the North-Khancheyskoye field developed by …
Russia Aims to Test Domestic Subsea Production Systems by 2020
St. Petersburg hosted today a meeting of the Inter-Agency Working Group on Reducing Dependence of Russia’s Fuel and Energy Complex on Imported Products involving representatives of Gazprom. The meeting was chaired by Denis Manturov, Minister of Industry and Trade of the Russian Federation. Gazprom was represented at the event by …
Yamal LNG Commenced LNG Production
PAO NOVATEK (“NOVATEK” and/or the “Company”) today announced that Yamal LNG has commenced producing liquefied natural gas (LNG) at the first LNG train, with the nameplate capacity of 5.5 million tons per annum. The first cargo loading is scheduled on 8 December 2017 at the Sabetta port using the first …
Nazarbayev Discusses Energy Projects with Royal Dutch Shell, Chevron Management
Kazakh President Nursultan Nazarbayev recently discussed the status of energy projects in Kazakhstan, including the Karachaganak and Kashagan fields, with Chief Executive Director of the Royal Dutch Shell Ben van Berden and Chairman of the Board of Directors and Chief Executive Officer of Chevron John Watson. Van Buren noted that …
KMG EP approves 2018 Budget and 2018-2022 Business Plan
JSC KazMunaiGas Exploration Production (“KMG EP” or the “Company”) announces that its Board of Directors (“the Board”) has approved the Company’s 2018 budget and 2018-2022 business plan. KMG EP’s Independent Directors abstained from voting on approval of the 2018 budget and 2018-2022 business plan. The budget for 2018 assumes a …