Novatek Wants Arctic Sea Route Open Year Round

by Sabina Zawadzki (Reuters) - Russian gas producer Novatek wants to use nuclear icebreakers to keep the Northern Sea Route, a shipping path traversing the Arctic to Asia, open all year long for its liquefied natural gas (LNG), a top executive said on Wednesday. “Our plan is to keep the Northern Sea Route open twelve months a year in 2023 to 25 with 100-megawatt-hour nuclear … [Read more...]

Russia Eyes Island Storage for Arctic LNG Amid China Demand Boom

By Tsuyoshi Inajima (Bloomberg) -- Russia’s Novatek PJSC is looking at storing liquefied natural gas produced in the Arctic on Japan’s southern island of Kyushu so it can better meet spot demand from China and cut shipping costs. Saibu Gas Co., which last month signed a preliminary deal to allow Russia’s biggest LNG producer to use its storage facilities, said … [Read more...]

Three New Arc7 LNG Carriers Headed for Russia’s Yamal LNG Terminal

By Sabina Zawadzki LONDON, Sept 5 (Reuters) - Three new liquefied natural gas (LNG) tankers capable of plowing through the Arctic ice have completed sea trials in recent weeks and are due to start operations at the Yamal LNG terminal in northern Russia, Reuters shipping data shows. Novatek's Yamal terminal has been ramping up LNG shipments faster than expected after loading … [Read more...]

Novatek Signs 15-Year LNG Supply Deal With CNPC

Oct. 22 (Bloomberg) -- OAO Novatek, Russia’s second-biggest natural-gas producer, will supply the fuel in its liquefied form to China National Petroleum Corp. for 15 years, according to a preliminary accord signed today. Novatek will sell at least 3 million metric tons of liquefied natural gas a year to CNPC on delivered ex-ship terms, with the price indexed to the … [Read more...]

Russian LNG Exports Look Brighter After Putin Orders

Oct. 21 (Bloomberg) -- Russia’s Energy Ministry may from December be able to grant licenses to export liquefied natural gas, moving closer to breaking OAO Gazprom’s monopoly on shipments of the fuel abroad. President Vladimir Putin ordered the government to award the ministry with the licensing rights by Dec. 15, according to a statement on the Kremlin’s … [Read more...]