Russia to build 15 Tankers at South Korean Shipyards
Fifteen tankers will be built at South Korean shipyards to transport the products of the Yamal LNG plant, TASS cites Russian President Vladimir Putin as saying. “We have noted with satisfaction the successful cooperation in the energy sector: South Korean companies are participating in the Sakhalin-1 and Sakhalin-2 projects, we are working on the issue of increasing purchases of liquefied natural gas,” the report quoted President Putin. According to him, “15 tankers will be built at the South Korean shipyards to transport Yamal LNG products.” Besides, Vladimir Putin marked the advantages of the potential involvement of South Korean companies in the construction of infrastructure facilities in Russia, including the modernisation of Far Eastern ports and shipyards and the joint development of the Northern Sea Route. These statements follow Putin's the talks with Moon Jae-in, President of the Republic of Korea. Yamal LNG is a liquefied natural gas plant nearing operational capacity, in 2017, and located in Sabetta at the north-east corner of the Yamal Peninsula, Russia. The project is expected to cost US$27 billion.
Novatek Says No Need to Borrow More for Yamal LNG Project
Russia's largest private gas producer Novatek has no need to increase borrowing as it has sufficient funds for investments into its Yamal LNG project, the company's management said on Wednesday. At a conference call with analysts, Novatek's chief executive Leonid Mikhelson said his company has already invested $22 billion in Yamal LNG after securing borrowing on both global and domestic markets. He said Yamal LNG, a project to build Russia's second gas liquefaction plant
Arctic LNG Plant Project Gets Green Light
Yamal LNG, a J/V between Russia’s Novatek and France’s Total, granted permission to build a liquefied natural gas plant in the Russian Arctic. The joint venture, majority-owned by Novatek with an 80 percent stake, received a positive assessment from the State Expert Commission for the project and permission to build the LNG plant at the port of Sabetta on the Yamal Peninsula, reports Ria Novosti. The Yamal LNG project envisages building the plant in two stages with a capacity
Steel Cut for Yamal LNG Project’s Lead Tanker
A steel-cutting ceremony was held on September 29 for the lead gas tanker ordered by SCF Group for transportation of liquefied natural gas (LNG) under the Yamal LNG project. The prototype vessel will be operated under a long-term time charter between OAO Sovcomflot and JSC Yamal LNG. The steel-cutting ceremony, marking the formal start of a ship’s construction process, took place at the Daewoo Shipbuilding and Marine Engineering Co., Ltd
Russia’s Novatek Sells 10% Of Yamal LNG To Chinese Fund
Russia’s second-biggest gas producer Novatek is selling a 9.9 percent stake worth an estimated US$1.4 billion in its Yamal liquefied natural gas (LNG) project to a China’s Silk Road infrastructure fund, reports Reuters. The deal, first discussed in August, was inked as part of a visit by President Vladimir Putin to Beijing to mark 70 years since the end of World War Two in Asia.
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
Total to Buy $4B Stake in Novatek, Join Arctic LNG Project
According to a March 3 report from Bloomberg, Total SA (FP), Europe’s third-biggest oil company, agreed to buy 12% of OAO Novatek and join the Yamal LNG project to snap up reserves as international energy producers rush to explore Russia’s Arctic resources. (Source: Bloomberg)
Yamal LNG Project Received €780 Mln in Chinese Loans in July
The Novatek-led Yamal LNG project in Russia received financing in July worth about 780 million euros from China Development Bank and Export-Import Bank of China, according to Yamal's accounting report published on Tuesday. The 15-year loan deals, of 9.3 billion euros and 9.8 billion yuan ($1.48 billion), were signed by the two Chinese financial institutions in late April. The latest disbursement follows the first chunk of 450 million euros Yamal received in late July.
New LNG Tanker Forges Path for Arctic Shipping
An ice-breaking tanker docked for the first time at Russia's Arctic port of Sabetta to test a new route that could open the ice-bound Arctic Ocean to ships carrying oil and liquefied gas. The route is eagerly anticipated by energy firms that want to develop resources in the Arctic but face obstacles in getting oil and gas from remote and freezing fields to world markets. Environmental activists fear commercial shipping in the Arctic -- now possible because climate change has
Arctic Responsibilities Laid Out
Developments in Arctic resource recovery and transportation are providing the main focal point for many at NEVA and this year’s event in St Petersburg comes at a pivotal time for both the economic and ecological prospects of the region. Export shipments of LNG from the Yamal peninsula are due to start shortly, with the lead vessel of 15 in the ‘Yamal LNG fleet’ recently completing the first unaccompanied voyage by a gas carrier through the Northern Sea Route by
Arctic Thaw helps Russian Shipping
Arctic thaw aids shipping most along Russian coast; Russia to start LNG exports from Yamal in late 2017. Russian shipping in the Arctic is benefiting from winds that are driving the oldest and thickest sea ice towards North America, further opening a remote region that is thawing amid global warming, scientists say. The thinning Russian ice could help liquefied natural gas (LNG) tankers, due to start exports from Russia's Yamal Peninsula in late 2017
LNG Carrier Sets Northern Sea Route Record
On August 17, 2017, the Sovcomflot-owned icebreaking liquefied natural gas (LNG) carrier Christophe de Margerie completed her first commercial voyage, transporting LNG through the Northern Sea Route (NSR) from Norway to South Korea. During this voyage, the vessel set a new time record for an NSR transit of 6 days 12 hours and 15 minutes. Moreover, Christophe de Margerie has also become the world’s first merchant vessel to travel the full length of the NSR without any icebreaker escort.
SCF's Balancing Act in Tanker Market
Despite the turbulent conditions seen in conventional markets, SCF Group has continued to demonstrate resilience whilst remaining able to position itself to take advantage of the future upswing in these markets when it comes. The first half of 2017 was very challenging for global tanker markets, with spot freight rates in all market segments nearing their historic lows. This has impacted severely upon the profitability of those owners focused solely on conventional shipping
ABB’s Azipod Writes History in the Arctic
Sovcomflot’s liquefied natural gas (LNG) carrier Christophe de Margerie made the world’s first-ever crossing of the Northern Sea in late August without the aid of an ice-breaker. The record-setting vessel is powered by ABB’s advanced Azipod electric propulsion technology. The 172,600 cubic meters Arctic LNG tanker, which features a lightweight steel reinforced hull, is the largest commercial ship to receive Arc7 certification
Sovcomflot tankers Move one mi tonnes oil from Novy Port O&G condensate field
Sovcomflot’s three unique Arctic shuttle tankers, of the Shturman Albanov series, have now transported one million tonnes of crude oil produced at the Novy Port oil and gas condensate field, from the Gulf of Ob (Kara Sea) to the port of Murmansk. The milestone millionth tonne cargo of oil was loaded on Shturman Albanov on 29 January 2017 at the Arctic Gate marine terminal located near Cape Kamenny (Gulf of Ob).
Deck Carrier BigRoll Beaufort Delivered
The heavy marine transportation provider BigRoll Shipping has reached a milestone. The fourth and final MC Class vessel for BigRoll shipping was handed over by Cosco Dalian Shipyard Co. Ltd to new owner BigRoll Shipping in Leiden, the Netherlands. BigRoll Beaufort completes this unique series of four identical deck carriers. The Finnish Swedish 1A Ice Class MC-Class vessels are explicitly designed for the marine transportation of major modules and equipment for large energy projects
First Icebreaking LNG Carrier Ready for Service
The world’s first icebreaking liquefied natural gas (LNG) carrier, Christophe de Margerie, has berthed at the gas terminal at Sabetta Port in Russia, becoming the first vessel to do so. Built by Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME) in South Korea, the tanker was designed to order for SCF Group, specifically to serve Russia’s Yamal LNG project, and transport LNG year round in the difficult ice conditions of the Ob Bay and Kara Sea.
Russia Ramping Up Arctic LNG Production
Russia may produce more than 70 million tonnes of liquefied natural gas (LNG) per year in its remote Arctic regions, the head of gas producer Novatek said on Wednesday. "The Gydan and Yamal peninsulas have a vast resource base that allows the production of over 70 million tonnes (of LNG); it is comparable to LNG production in Qatar", Leonid Mikhelson, the head and co-owner of Novatek told a conference.
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
ABB Opens Two-stage Turbocharging to a Wider Market
ABB Turbocharging will launch in mid-2017 a new frame size for its two-stage turbocharging solution, Power2 800-M, extending the benefits of high pressure ratios, increased turbocharging efficiency and fuel savings to a wider scope of medium-speed engine configurations, the manufacturer said. The new frame size, Power2 845-M, applicable to an increased range of ship propulsion solutions, will open up the efficiency and operational benefits to a greater spectrum of vessel types
World’s First Ice-breaking LNG Carrier Christened
The world`s first icebreaking liquefied natural gas (LNG) carrier was named Christophe de Margerie in St. Petersburg, Russia. Russia’s President Vladimir Putin, South Korea’s Ambassador to Russia Park Dae-bong and Daewoo Shipbuilding & Marine Engineering Co. (DSME) CEO Jung Sung-leep attended the naming ceremony for the country’s new carrier. The ship will be deployed for Russia’s national Far East resource development in the
Private Producer Aims to Ship Baltic's First Russian LNG Before Gazprom
LNG Gorskaya, a privately-owned Russian liquefied natural gas (LNG) producer, has launched a 340 million euro ($379 million) project to become the first LNG exporter from Russia's European coast, its CEO told Reuters. Russia expects to send LNG to Europe by the end of 2017 from its distant Arctic peninsula of Yamal but a plant on its Baltic coast could establish the country as a more immediate supplier of LNG in a region already dependent on piped Russian gas.
Novatek Aims to Topple Qatar from LNG Top Spot
Russian gas producer Novatek aims to topple Qatar as the world's biggest exporter of liquefied natural gas as it gets closer to completing its first LNG project, a top executive said, batting away concerns about U.S. sanctions on the sector. The country's largest non-state gas producer is expected to start exporting LNG from the first phase of the Yamal project, situated far above the Arctic circle, towards the end of this year and may bring forward its final stage by six months
MOL Bags Yamal LNG Charter Contract for Four Ships
Mitsui O.S.K. Lines (MOL) announced it has signed a long-term charter contract for four liquefied natural gas (LNG) carriers with the tank capacity of 174,000m3, which will be delivered and serve on Yamal LNG project in 2019 and 2020 onward, through a wholly-owned subsidiary of MOL. The four contracted carriers will serve as a transport of LNG transshipped by the project from Europe. MOL did not provide any additional information on the vessels.
First of Yamal LNG Tankers Starts Navigation via the NSR
The first Arc7 ice-class LNG tanker “Christophe de Margerie” has entered the Kara Sea and has started its first LNG cargo voyage through the Northern Sea Route (NSR). The subleased tanker will go through the NSR without the escort of icebreakers and will deliver LNG from Norway to South Korea in 15 days. The utilization of the route from Europe to Eastern and South-Eastern Asia through the NSR halves the transportation time to market compared to the