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Silk Road Fund News

24 Nov 2020

Novatek Starts LNG Ship-to-ship Operations in Murmansk

(Photo: Novatek)

Russian gas producer Novatek has started ship-to-ship loadings of liquefied natural gas from the Yamal LNG project near the northern port of Murmansk, shifting away from Norway, ship tracking data at Refinitiv Eikon showed on Monday.The company previously conducted such operations at a terminal at the Norwegian Arctic port of Honningsvag. However, Oslo has faced pressure from the United States to stop Novatek from using a Norwegian port, with Washington arguing that such operations…

30 Mar 2020

Yamal LNG Resumes Loading Operations in Norway

(File photo: Novatek)

Yamal LNG, controlled by Russia's largest liquefied natural gas (LNG) producer Novatek, is resuming ship-to-ship transfers in Norway, Novatek said on Monday, after plans to shift the operations to Russia fell through due to coronavirus.Novatek suspended transfers in Norway in June last year due to what it termed "pressure from the West".According to Refinitiv Eikon data, the Arc7 tanker Vladimir Vize is due to arrive at the Norwegian Arctic port of Honningsvag on April 1, carrying a cargo from Yamal LNG.The data also showed that an empty Arc4 tanker…

11 Dec 2019

Yamal LNG Gets All 15 Arc7 Ice-Class Tankers

Russian liquefied natural gas (LNG) producer Yamal LNG  announced the operational start of the new Arc7 ice-class LNG tanker “Yakov Gakkel”,  the fifteenth and final Arc7 ice-class tanker built specifically for the Project.The Yakov Gakkel has loaded the 354th LNG cargo in the port of Sabetta bound to China, said a press note.The vessel was built by Daewoo Shipbuilding and Marine Engineering (DSME) and is owned and operated by a 50-50 joint venture by Teekay LNG and China LNG Shipping. It is one of six vessel owned and operated by the Teekay-China LNG joint venture.The Project’s Arc7 ice-class fleet is capable of shipping all of the…

02 Dec 2019

Yamal LNG Reaches Bangladesh

Novatek has announced the delivery of liquefied natural gas (LNG) cargo from Russia’s Yamal LNG project to Bangladesh in accordance with the long-term offtake agreement with Total.The consignment was delivered along the westbound route via the Suez Canal with transshipment from the ice class Arc7 LNG tanker “Eduard Toll” to a conventional type LNG tanker at the Belgian terminal located at Zeebrugge. The LNG cargo was unloaded at the Summit LNG Terminal in Bangladesh in accordance with the buyers lifting and delivery schedule.“LNG demand is constantly growing all over the world with new consumer countries appearing. Bangladesh started importing LNG just a year ago with the launch of the country’s first LNG terminal…

02 Dec 2019

Yamal LNG Exceeds Nameplate Capacity

Yamal LNG, a liquefied natural gas plant located in Sabetta at the north-east of the Yamal Peninsula, Russia, announced that since the beginning of 2019, the LNG plant produced more than 16.5 million tons of LNG.The Project exceeded its annual nameplate production capacity during the first eleven months of the year, when all three LNG trains were in operation, as the third LNG train was launched at the end of 2018.Yamal LNG has reached 25 million tons of LNG shipped since the start-up of Train 1 in December 2017, and has cumulatively dispatched more than 340 cargos.Yamal LNG is constructing a 17.4 mtpa natural gas liquefaction plant comprised of three LNG trains of 5.5 mtpa each and one LNG train of 900 thousand tons per annum…

26 Jun 2019

Yamal LNG Ships 1st LNG Cargo to Japan

Russian natural gas producer Novatek announced that Yamal LNG shipped the first LNG cargo to Japan in accordance with the long-term off-take agreement with TOTAL.It was unloaded at the Tobata LNG Terminal in accordance with the delivery schedule, said a release from Russia's largest private gas producer.“Commencing LNG shipments to the Japanese market represents an important milestone for the Company as Japan is an important LNG market and one of the priority destinations in our LNG marketing strategy,” said Leonid Mikhelson, Novatek’s Chairman of the Management Board.“Further development of our logistical chain using the Northern Sea…

07 Jun 2019

Chinese, Russian Majors Ink Arctic LNG Deal

Russia's second largest natural gas producer Novatek, Russian maritime shipping company specializing in petroleum and LNG shipping Sovcomflot, Chinese state-owned shipping and logistics services supplier company COSCO Shipping Corporation Limited, and the Chinese government owned investment fund Silk Road Fund, signed a four-party agreement to establish a joint venture Maritime Arctic Transport LLC.The focus of the Maritime Arctic Transport joint venture is to manage an icebreaking tanker fleet of Arctic ice-class vessels, comprising existing and new vessels, engaged in the transportation of LNG for current and planned NOVATEK projects…

05 Feb 2019

Yamal LNG Shipped 10MT

Yamal LNG, a joint venture liquefied natural gas (LNG) production project in Sabetta, Russia, has shipped its ten millionth ton of LNG since the commencement of the project.The 136th cargo offloaded onto the Arc7 ice-class tanker “Vladimir Vize” reached 10 million tons of LNG produced since the start-up of Train 1 in December 2017.Yamal LNG is constructing a 17.4 mtpa natural gas liquefaction plant comprised of three LNG trains of 5.5 mtpa each and one LNG train of 900 thousand tons per annum, utilizing the hydrocarbon resources of the South-Tambeyskoye field in the Russian Arctic.The first LNG Train began production in Q4 2017 and Trains 2 and 3 — in July 2018 and November 2018, respectively.

19 Dec 2018

Russian Novatek, Italian SACE in LNG Pact

Russian gas giant Novatek and SACE SIMEST, the Italian export credit company part of CDP Group, have finalized an agreement on strategic cooperation in the liquefied natural gas (LNG) projects, including Arctic LNG 2."PAO Novatek and SACE signed a Memorandum on Strategic Cooperation 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," said a statement from Novatek.“We successfully cooperated with SACE in the financing of our Yamal LNG project” noted Novatek’s Chairman…

12 Dec 2018

Yamal LNG Reaches Full Capacity

The Yamal liquefied natural gas (LNG) project in Arctic Russia officially commissioned the third and last production line Tuesday.Russia's independent natural gas producer PAO Novatek announced that its joint venture Yamal LNG has reached full capacity at the plant’s three LNG trains.The Yamal LNG project was implemented in record time and on budget with the launches of the second and third trains made ahead of schedule by six months and more than a year, respectively. Russian Federation Prime Minister Dmitry Medvedev participated in the official ceremony commemorating this milestone event at Yamal LNG.Yamal LNG is comprised of three liquefaction trains with a total nameplate capacity of 16.5 mmtpa, or 5.5 mmtpa per LNG train.

05 Dec 2018

Yamal LNG Fills-up 100th Tanker

Novatek’s Yamal LNG plant in the Russian Arctic has shipped its 100th tanker-load – bringing the total volumes shipped by the plant to 7.4 mt since it entered operations in December 2017.The ice-class Arc7 LNG carrier Fedor Litke was the 100th tanker to be loaded with LNG, the company reported. Total amount of LNG shipped under Yamal LNG project – 7.4 million tonnes.Yamal LNG, one of the largest and most complex LNG projects in the world, is constructing a 17.4 mtpa natural gas liquefaction plant comprised of three LNG trains of 5.5 mtpa each and one LNG train of 900 thousand tons per annum, utilizing the hydrocarbon resources of the South Tambey Field located in the Russian Arctic.Yamal LNG is located above the polar circle in the estuary of the Ob River…

22 Nov 2018

Novatek Kicks-off Yamal LNG's Train 3

Russia's Novatek has begun production of the commissioning LNG from its third 5.5 million mt/year train at the Yamal LNG project, bringing the plant's total capacity to 16.5 mln tonnes of LNG per year.“We have successfully launched all three LNG trains at our flagship Yamal LNG project according to our revised early launch schedule,” Novatek’s head Leonid Mikhelson said.Russia’s largest independent natural gas producer said in a press release that the third LNG train was launched more than one year ahead of the planned original schedule. All three technological trains have been launched on budget, it said.This fact is unprecedented for the industry plagued by massive cost overruns and project delays…

20 Nov 2018

China CNOOC receives first LNG shipment from Russia's Yamal project

(Photo: Novatek)

China National Offshore Oil Co, or CNOOC, offloaded a liquefied natural gas (LNG) cargo on Nov. 11 shipped from Yamal, first of its kind the Chinese firm received from the Russian Arctic gas project, CNOOC said on its website on Tuesday.The cargo, purchased from Russian firm Novatek, was delivered into CNOOC's receiving terminal in Putian of southeastern province of Fujian.Novatek controls Yamal LNG, which is co-invested by France's Total, China's CNPC and the Silk Road Fund. Yamal launched its second LNG train in August with an annual capacity of 5.5 million tonnes.

24 Sep 2018

Russia's Novatek Ships First LNG Cargo to Brazil

Russian natural gas producer Novatek has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project.A statement from PAO Novatek said that its wholly owned subsidiary, Novatek Gas and Power Asia Pte. Ltd. has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project. The cargo was delivered to the Bahia Regasification Terminal owned by Petrobras.“Our LNG marketing strategy aims to diversify our supply geography and customer base,” noted Leonid Mikhelson, Novatek’s Chairman of the Management Board. Leonid added: “This shipment represents our first LNG cargo produced by our own production to the Latin American market…

09 Aug 2018

Yamal LNG Commissioned in Record Time

Russia’s PAO Novatek has launched a second liquefied natural gas (LNG) production train at its plant on the Yamal peninsula ahead of schedule.Russia's largest independent natural gas producer announced that "Yamal LNG has launched the second LNG train and dispatched the first cargo from this unit. The second LNG train commissioned six months ahead of its original schedule, and combined with the first LNG train launch in December 2017, has achieved the commissioning of the first two LNG trains in record time."The first gas input into the second LNG train occurred on the 21st July and is now operating at its rated nameplate capacity of 5.5 million tons per annum (mmpta).

19 Jul 2018

Novatek Ships First LNG Cargo to China via Arctic

Eduard Toll (File photo courtesy Teekay)

Russian natural gas producer Novatek delivered on Thursday the first ever liquefied natural gas (LNG) cargo to China via the Northern Sea Route (NSR) alongside the Arctic coast, which drastically cuts delivery time to Asian consumers.The shipments of LNG from Yamal LNG project via the NSR to China cuts transportation time and costs in comparison to other routes such as Suez Canal.Novatek said a ceremony was held to commemorate the arrival of LNG tankers Vladimir Rusanov and Eduard Toll with cargo capacity over 170…

22 Jun 2018

Yamal LNG Shipped First LNG Cargo to Spain

Yamal LNG has shipped the first cargo of liquefied natural gas (LNG) to Spanish company Gas Natural Fenosa under a long-term offtake agreement, a press release from PAO Novatek said. The 170 thousand cubic meter Arc7 ice-class LNG carrier “Fedor Litke” unloaded the first cargo in the port of Mugardos in accordance with the lifting and delivery schedule. Annual sales volumes according to the 24-year long-term offtake contract are 2.5 million tons of LNG, which equals to more than 3 billion cubic meters of natural gas. Novatek's Chairman of Management Board Leonid Mikhelson noted: "The first LNG tanker shipped today to  Gas Natural Fenosa…

31 Jan 2018

Novatek to Launch Second Yamal LNG Line in September

(Photo: Yamal LNG)

Russia's largest non-state natural gas producer Novatek will launch a second line at its Yamal LNG plant in September, the RIA news agency cited the company as saying on Wednesday.   Novatek owns a 50.1 percent stake in Yamal LNG. France's Total and China National Petroleum Corp each control 20 percent, while China's Silk Road Fund owns 9.9 percent.   Yamal LNG started producing liquefied natural gas in December. (Reporting by Vladimir Soldatkin; Writing by Polina Ivanova; Editing by Jack Stubbs)

30 Dec 2017

Govt Approves Yamal LNG Train

OAO Yamal LNG was granted State permission to commission the main technological facilities of the LNG plant’s first stage, including the first liquefaction train, 58 gas wells and the respective infrastructure. Evgeniy Kot, General Director, Yamal LNG, stated: “Obtaining permission to commission the first LNG train is the cumulative result of many months of hard work and dedication by thousands of construction workers, installers, and engineers who have worked and continue to work in Sabetta. We not only maintained our strict project deadlines, but we also expect to launch the second and third LNG trains ahead of schedule”. The design capacity of the first LNG train is 5.5 million tons per annum. Yamal LNG plans to begin shipping LNG before the end of 2017.

08 Dec 2017

Putin Okays Loading Start at Yamal LNG

President Vladimir Putin on Friday launched the first loading of liquefied natural gas at the Novatek-led Yamal LNG project in the Arctic, which will further expand Russia's global energy reach. The Yamal project, which required investments of $27 billion, will allow Russia to fulfil a plan to double its share of the global LNG market by 2020 from around 4 percent now. The LNG was loaded onto the ice class tanker "Christophe de Margerie", named after the former head of France's energy major Total, who died in a plane crash in Moscow in 2014. Total holds a 20 percent stake in Yamal LNG. "The loadings will be carried out all year round... "Russia can and should get a decent stake in the market," he told the attendees, who included Saudi Arabia's Energy Minister Khalid al-Falih.

26 Nov 2017

Novatek Aims to Launch Yamal LNG on Dec 8

(Photo: Novatek)

Russia's Novatek has provisionally set Dec. 8 as the official launch date for its Yamal LNG plant, two sources with direct knowledge of the event planning told Reuters. Novatek's partners on the project are France's Total, the China National Petroleum Corp (CNPC) and China's Silk Road Fund. The project, on the Yamal Peninsula above the Arctic Circle, will be Russia's second LNG plant after Sakhalin-2 on the Pacific island of Sakhalin. At full capacity, the Yamal facility will be able to produce 16.5 million tonnes of liquefied natural gas a year, which it will ship to Europe and Asia.

10 Oct 2017

Yamal LNG to Ship Two LNG Cargoes in November

The Russian Yamal LNG project will ship the first two cargoes of liquefied natural gas in November, followed by another four in December, Russia's customs service said on Tuesday.   The Yamal LNG project is co-owned by local Russian gas producer Novatek, as well as France's Total, China's CNPC and the Silk Road Fund.   Reporting by Oksana Kobzeva

03 Apr 2017

Daewoo to Deliver Two More LNG Tankers in 2017

South Korea's Daewoo Shipbuilding expects to deliver two more ice-class tankers to lift liquefied natural gas (LNG) from Russia's Yamal LNG project this year, a company spokesman said on Monday. Daewoo Shipbuilding & Marine Engineering (DSME), which has the world's largest volume of existing orders among shipyards, has got an order to build a total of 15 ice-class tankers for the Yamal LNG project. The first tanker, named after Christophe de Margerie, the former chief executive of French oil company Total who died in an aircraft crash at a Moscow airport in 2014, made a test docking at the Sabetta port in Yamal last week. A spokesman for Daewoo Shipbuilding said on Monday that the remaining 14 LNG tankers for Yamal are all due to be delivered by 2020…