Lifting the Curtain on Russia’s Oil and Gas Sectors That Will Bring in an Estimated $260 Billion in 2022
Despite the severe oil production cuts expected in Russia this year, tax revenue will increase significantly to more than $180 billion due to the spike in oil prices, Rystad Energy research shows. This is 45% and 181% higher than in 2021 and 2020, respectively. Russia’s progressive tax system means that …
NOVATEK: Unique NSR Voyage Delivers a Module for Arctic LNG 2
PAO NOVATEK announced that the Arc7 ice-class module carrier AUDAX completed its voyage along the Northern Sea Route (NSR) long after the traditional navigation season closure, to deliver a process module weighing almost 12,000 tonnes for Arctic LNG 2 from the Chinese port of Tianjin to Murmansk. The module will …
NOVATEK and Zhejiang Energy Sign Sales and Purchase Agreement on Long-Term LNG Supply
PAO NOVATEK announced today that its wholly owned subsidiary, NOVATEK Gas & Power Asia Pte. Ltd., and Zhejiang Energy Gas Group Co., Ltd, a subsidiary of the Zhejiang Provincial Energy Group (“Zhejiang Energy”) signed a long-term LNG sale and purchase agreement (“SPA”) for the LNG produced from the Arctic LNG …
Arctic LNG 2: Signs Loan Agreements with International Banks
Arctic LNG 2 announced today the signing of loan agreements with international financial institutions and commercial banks. The maximum aggregate loan amount under the facilities to be provided by the Russian and international banks is EUR 9.5 billion for up to 15 years. The external financing package with a consortium …
First Modules Delivered for the Arctic LNG 2 Project
Arctic LNG 2 today announced that the first modules for LNG Train 1 were successfully delivered by the Project’s EPC contractor, a joint venture of Technip Energies, Saipem and NIPIGAS. The two first pipe-rack modules weighing approximately nine thousand tons each were shipped from the Zhoushan port in China to …
First Plane Landed at the Utrenniy Airport of the Arctic LNG 2 project
Arctic LNG 2 announced today that the first plane landed at the Utrenniy airport built specifically for the Arctic LNG 2 project on the Gydan Peninsula in the Yamal-Nenets Autonomous Region. The flight on the Tyumen to Utrenniy route was operated by Utair. The Utrenniy Airport has a 1,550 meters …
NOVATEK and Glencore sign Heads of Agreement on LNG Supply
PAO NOVATEK announced that as part of today’s Saint-Petersburg International Economic Forum, its wholly owned subsidiary, NOVATEK Gas & Power Asia Pte. Ltd., and an affiliate of Glencore Plc signed a Heads of Agreement for the long-term supply of LNG from the Arctic LNG 2 project. The Agreement established the …
NOVATEK and Zhejiang Energy Sign Heads of Agreement on LNG Supply
PAO NOVATEK announced that as part of today’s Saint-Petersburg International Economic Forum, its wholly owned subsidiary, NOVATEK Gas & Power Asia Pte. Ltd., and Zhejiang Energy Gas Group Co., Ltd, a subsidiary of the Zhejiang Provincial Energy Group signed a Heads of Agreement for the long-term supply of LNG from …
Arctic LNG 2 Participants Conclude Long-Term Offtake Agreements
PAO NOVATEK announced today that its joint venture OOO Arctic LNG 2 concluded 20-year LNG Sales and Purchase Agreements (SPAs) for the total LNG production volumes with all the Project’s participants. The LNG sales from Arctic LNG 2’s first liquefaction train is planned to commence in 2023. The SPAs provide …
NOVATEK and Shenergy Group Sign SPA for LNG from Arctic LNG 2
PAO NOVATEK announced today that its wholly owned subsidiary, NOVATEK Gas & Power Asia Pte. Ltd., and Shenergy Group signed a long-term LNG Sales and Purchase Agreement (“SPA”) for the LNG produced from the Arctic LNG 2 project. The SPA stipulates the cumulative supply of more than three (3) million …