Public Joint Stock Company News

Russian energy firm Novatek  has 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 Arc7 ice-class LNG tanker named the “Christophe de Margerie”. The Chairman of Novatek's Management Board Leonid Mikhelson noted: "This event marks a milestone accomplishment for the Yamal LNG project. The commencement of LNG production begins a new chapter in our corporate history. Many contractors and suppliers from Russia and abroad were involved in this project. We have received great support from the Russian government in implementing this project.

The Global Small Scale LNG Market is expected to grow over the CAGR of around 2.5% during the period 2014 to 2022, says a report by Market Research Future. The growth of the Small Scale LNG Market is majorly driven by increased demand for energy in the Asia-Pacific region. The government initiatives that focus on providing cleaner fuel, is driving the market, especially in countries such as India and China. The market is further driven by the growing adoption of LNG for heavy duty transportation purposes in the Europe and North American regions. However, the growth of this market can be restrained by the extensive investment required to construct LNG storage plants and fluctuation in global gas market prices.

The procedure of renaming Open Joint Stock Company (OJSC) Gazprom into Public Joint Stock Company (PJSC) Gazprom has finished. The change in the Company's legal status is reflected in the new version of the Articles of Association approved by the annual General Shareholders Meeting on June 26 and registered under a statutory procedure on July 17. The Company's name was changed with a view to bring it in line with the provisions of Chapter IV of the Civil Code of the Russian Federation.

Abu Dhabi Ship Building has been awarded a contract to build four landing craft for the Bahrain Naval Forces. The multi-million dollar contract was won in the face of competition from international shipyards. This is the second Bahraini order for Abu Dhabi Ship Building (ADSB), the only dedicated naval shipbuilding and repair facility in the Arabian Gulf. The new contract, awarded by the Kingdom of Bahrain Defense Force, is for the construction of two 42-metre steel landing craft and two 16-metre landing craft made of composite materials.

The first four Bahraini Coast Guard boats arrive at Abu Dhabi Ship Building. Four Bahrain Coast Guard boats arrived at the Abu Dhabi Ship Building (ADSB) shipyard in Mussafah, Abu Dhabi, to undergo a major refit and upgrade program. These are the first four boats out of a total of ten boats that will be refitted and upgraded under a contract signed with the Bahrain Government in late 2007. The contract provides for the complete refurbishment of the vessels including new propulsion and auxiliary machinery, accommodation facilities and navigation equipment.

30,000 dwt drydock in Ajman, United Arab Emirates. Said AHI's Chairman, Mr Obaid Ali Al Muhairi, "The opening of the Al Zora Drydock consolidates AHI's position as the premier medium-size shipyard in the Gulf. The demand for the drydock has been encouraging since it commenced operations in mid November 2000. To date, it has docked a total of seven vessels, the largest of which is M.V. Arabella, a 26,000 dwt bulk carrier from Seven Seas Maritime Limited, based in the U.K. Built within a year at an investment of DH. $20 million, the dock is equipped with modern facilities for enhanced operations and improved flexibility. Measuring 175 x 32 m, the drydock has an extra wide beam allowing it to accommodate a wider range of tonnage of up to 30,000 dwt.