Arctic LNG 2 and Siemens Sign Equipment Supply Contract
PAO NOVATEK announced that Arctic LNG 2 and Siemens signed a contract on compressor equipment for three liquefaction trains of the Project. The scope of supply under the contract includes three feed gas compressors and six boil-off gas compressors. The document also provides for localizing the equipment fabrication for the …
Purovsky Plant Reaches Milestone of 80 Million Tons Processed
PAO NOVATEK announced that its Purovsky Plant has cumulatively processed 80 million tons since the facilities start-up in June 2005. The Purovsky Plant processes de-ethanized (unstable) gas condensate produced at the fields of NOVATEK and its joint ventures into stable gas condensate and natural gas liquids. The Purovsky Plant is …
NOVATEK Announces Year-End 2018 Reserves
PAO NOVATEK announced that independent petroleum engineers, DeGolyer & MacNaughton, have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2018. Total SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 15,789 million barrels of oil equivalent (boe), including 2,177 billion cubic meters …
NOVATEK: 2018 Operating Results – Production Up 6.9%
PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the twelve months ended 31 December 2018. In 2018, NOVATEK’s hydrocarbon production totaled 548.4 million barrels of oil equivalent (boe), including 68.81 billion cubic meters (bcm) of natural gas and 11,800 thousand tons of liquids (gas condensate and …
Saipem and Renaissance Seal $2.5 bln Arctic LNG 2 Contract
Italian oil and gas industry contractor Saipem has secured a €2.2 billion ($2.5 billion) contract for Russian Novatek’s Arctic LNG 2 project. In a joint venture with Renaissance, a Turkish oil and gas services company, Saipem has been awarded an onshore engineering and construction project to build three liquefaction trains with …
NOVATEK Signed Memorandum on Strategic Cooperation with SACE
AO NOVATEK (“NOVATEK” and/or the “Company”) and SACE (CDP Group) signed a Memorandum on Strategic Cooperation (“Memorandum”) in relation to the Company’s current and future LNG projects. The parties agreed to develop long-term cooperation on the Arctic LNG 2 project and potential new LNG projects involving Italian suppliers and engineering companies. “We …
NOVATEK Elects a New Member to the Management Board
The Board of Directors (the “Board”) of PAO NOVATEK (“NOVATEK” and/or the “Company”) has made the following decisions: Starting from 14 January 2019, the Company’s Board has elected Evgeny A. Kot (Deputy Chairman of the Management Board – LNG Director) to NOVATEK’s Management Board; and The Board of Directors approved …
Yamal LNG Ships Its One Hundredth Cargo
Yamal LNG has offloaded its one hundredth cargo of liquefied natural gas (LNG) – less than a year since the Project’s first shipment in December 2017. The hundredth cargo was loaded onto the Arc7 ice-class LNG carrier “Fedor Litke”, making the Project’s cumulative to-date delivery 7.4 million tons. source
NOVATEK: Yamal LNG Commenced Third LNG Train Production
PAO NOVATEK announced today that its joint venture Yamal LNG has commenced initial production of LNG at the plant’s third LNG train. The total nameplate capacity of all three LNG trains is 16.5 mmtpa, or 5.5 mmtpa per LNG train. “We have successfully launched all three LNG trains at our …
NOVATEK Discovers Nyakhartinskoye Field
PAO NOVATEK announced that its wholly owned subsidiary OOO NOVATEK-Yurkharovneftegas, upon testing of the exploration well PO-1 achieved commercial flows of natural gas from the Lower Cretaceous sediments at the Nyakhartinskiy license area with a gas condensate mixture well flow rate of more than 300 thousand cubic meters per day. …