NOVATEK: Signed Cooperation Agreement with Rostechnadzor
PAO NOVATEK and the Federal Environmental, Industrial and Nuclear Supervision Service of Russia (Rostechnadzor) signed a Cooperation Agreement on industrial safety. The Parties intend to exchange information in the field of industrial safety by using of state-of-the-art information systems, as well as cooperating on scientific and training programs and improving …
Natural Gas a Vital Element in Mission Net Zero: GECF
The Gas Exporting Countries Forum (GECF), as an intergovernmental coalition of 19 of the world’s leading gas producers together representing 70% of the proven natural gas reserves, 52% of gas pipeline, and 51% of LNG exports, echoes the International Energy Agency (IEA)’s recent report ‘Net Zero by 2050’. The GECF …
GECF Expert Commentary – New trends on the global market of LNG carriers
The Covid-19 pandemic has brought new challenges for the global gas industry, with the LNG shipping market not being an exception. Because of the Covid-19 pandemic, the market witnessed a reduction in the global gas demand in 2020, which resulted in a slowdown of the global LNG trade and lower-than-expected …
NOVATEK and TOTAL Sign Heads of Agreement on Acquiring a 10% Stake in Arctic Transshipment LLC
PAO NOVATEK signed a Heads of Agreement with TOTAL on the sale of a 10% participation interest in Arctic Transshipment LLC. Arctic Transshipment LLC is NOVATEK’s wholly owned subsidiary that will eventual operate two LNG transshipment complexes currently under construction in the Kamchatka and Murmansk regions. The transshipment complexes are …
NOVATEK Wants to Buy the Tambeyskoye Field from Gazprom
According to Kommersant’s information, the head of NOVATEK, Leonid Mikhelson, has made a new attempt to get from Gazprom the giant Tambey group of fields with reserves of 7.3 trillion cubic meters of gas. According to Kommersant’s sources, Mr. Mikhelson was able to convince Vladimir Putin that it would be strategically …
GECF Expert Commentary – LNG Shipping Costs: A Roller Coaster in Early 2021 After a Depression in 2020
For most of 2020, the LNG shipping market was in a depressed state like many other segments of the global gas industry. LNG export cargoes fell by 0.2% y-o-y in 2020 to reach 5,682 shipments, driven by a slowdown in LNG demand amid the Covid-19 pandemic. The commissioning of various …
NOVATEK Obtains the North-Gydanskiy License Area
PAO NOVATEK announced today that Arctic LNG 1, a wholly owned subsidiary, won the auction for geological survey, exploration and production license for the North-Gydanskiy subsoil license area located in the Yamal-Nenets Autonomous Region on the Gydan Peninsula and partly in the shallow waters of Gydan Bay of the Kara …
Gazprom Dobycha Irkutsk has Patented a Method for the Development of Hydrocarbon Fields
Gazprom Dobycha Irkutsk received a patent for the invention of a new method for the development of a hydrocarbon field, which ensures independence from external energy sources, as well as the mobility and flexibility of power supply for drilling rigs. In addition, the service life of the equipment is increased …
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 …
Baker Hughes and NOVATEK Partner to Develop Pioneering Lower Carbon Hydrogen Solution for LNG Trains
Baker Hughes and PAO NOVATEK have signed a cooperation agreement aimed at reducing carbon emissions from natural gas and liquefied natural gas (LNG) production. The two companies will cooperate on the development and implementation of innovative compression and power generation technology solutions from Baker Hughes for NOVATEK’s LNG projects, supporting …