Alexander Novak News

20 Jul 2018

Ice-Breaking LNG Carrier Vladimir Rusanov First Call at PetroChina LNG Jiangsu Terminal

China COSCO Shipping, Executive Vice President, Sun Jiakang (first from left) PAO Novatek, Chairman of the Management Board Leonid Mikhelson (second from left) Director of the National Energy Administration of China, Nur Bekri (fourth from left) Minister of Energy of Russia, Alexander Novak (fourth from right) CNPC, Board Director, President, Zhang Jianhua (third from right) MOL, Senior Managing Executive Officer, Takeshi Hashimoto (first from right). Photo: Mitsui O.S.K. Lines

Mitsui O.S.K. Lines (MOL) announced that the Ice-Breaking LNG Carrier "Vladimir Rusanov", which is jointly owned by MOL and China COSCO Shipping Corporation Limited for the Yamal LNG project, made its first call at PetroChina LNG Jiangsu Terminal in China on 17 July.A ceremony celebrating this milestone was held on 19 July.At the end of March 2018, the vessel started transportation services for LNG produced by the Yamal LNG plant at Sabetta port in Russia. For its latest voyage…

03 Aug 2018

Oil Prices Dip as Markets Eye Potential Supply Increases

© Oleksiy Mark / Adobe Stock

Oil prices fell on Monday as concerns about supply disruptions eased and Libyan ports resumed export activities, while traders eyed potential supply increases by Russia and other oil producers.Brent crude futures were down 26 cents, or 0.4 percent, at $75.07 a barrel at 0057 GMT.U.S. West Texas Intermediate (WTI) crude was down 27 cents, or 0.4 percent, at $70.74 a barrel.Supply outages in Libya and strike action in Norway and Iraq pushed oil prices higher late last week, although prices still ended down for a second straight week."Crude oil prices fell as fears of supply disruptions eased.

12 Feb 2018

Russia Could Take 2-5 Months to Exit Oil Output Deal

Russian Energy Minister Alexander Novak said on Monday it could take two to five months to exit a global oil output cut deal with OPEC and non-OPEC countries if and when such a decision was taken, the Interfax news agency reported. Global producers late last year extended a global oil output cut deal between members of the Organization of the Petroleum Exporting Countries and non-OPEC states until the end of 2018. The duration of that deal is expected to be reviewed at OPEC's next meeting in June when member countries will consider the current oil price and forecast prices when considering what action, if any, to take. "It could take three, four, five months or maybe just two (to exit the deal)," Novak said in an interview with Interfax.

25 Mar 2017

Gazprom to Cement LNG Ties with Kuwait

Lena River gas carrier. Photo: Gazprom

Russia-based energy company Gazprom has negotiated about supplies of liquefied natural gas (LNG)  to Kuwait, reports Tass. The talks continue in "a rather progressive mood,"during the the Energy Minister Alexander Novak’s visit to the Middle East country, the report said. However, it is too early yet to speak about finalizing them. Though Kuwait is satisfied with LNG supplies from Qatar, the parties continued the discussion on a long-term contract. Kuwait is building a new LNG terminal, which should be ready by 2020.

18 Jun 2015

Russian Arctic Offshore Drilling Postponed

Russian Arctic offshore drilling set for 2015 to be postponed to 2016 or later - Novak   Russia's Energy Minister Alexander Novak said on Thursday that Arctic offshore drilling planned for this year will be postponed until 2016 or later.   "Drilling of wells (in Russia's Arctic offshore territory) scheduled for 2015 will be delayed to the next year and possibly even longer," Novak told Rossiya-24 state TV in an interview. He did not name specific projects.   Sources previously told Reuters that Russian state oil producer Rosneft will be forced to postpone drilling a second well in the Kara Sea for at least two more years, as a result of Western sanctions over the Ukraine crisis.   (Reporting by Katya Golubkova; Editing by Jack Stubbs)

27 Mar 2015

Russia May Allow More Firms to Offshore Oil

Russia may allow more oil companies to access its offshore projects, Energy Minister Alexander Novak said on Friday.   "In general, the access can be extended," Novak told reporters in Moscow.   An existing law stipulates that only state energy majors Rosneft and Gazprom can explore offshore fields. But Lukoil, Russia's No.2 oil producer, has long called for extending access to private firms as well.     (Reporting by Olesya Astakhova, Writing by Polina Devitt, Editing by Gabriela Baczynska)

23 Dec 2014

Russia: 2014 Crude Exports Down 4.3 pct

Novak says Russian oil output to rise 0.6 pct in 2014; Natural gas production seen down 4 pct this year. Russia's oil exports are expected to fall by 4.3 percent this year, Energy Minister Alexander Novak said on Tuesday, citing preliminary data. He said oil exports will be 229 million tonnes (4.6 million barrels per day), while natural gas production will fall by 4 percent to 641 billion cubic metres (bcm) and exports by 6.7 percent to 183.3 bcm. Russia, one of the world's top oil producers, has been cutting crude exports in recent years due to rising domestic demand and refining volumes. Novak said that crude oil output will edge up 0.6 percent to 526.6 million tonnes, in what would be a post-Soviet record high. Output may edge down to 525 million tonnes next year, he added.

24 Nov 2014

Russia Has No Plan to Cut Oil Output

Russian Energy Minister Alexander Novak

Russia, the world's biggest energy exporter, does not plan to cut oil production to shore up prices, Rossiya 24 television quoted Energy Minister Alexander Novak as saying on Saturday. Russia, which relies on oil and gas exports for about half its federal budget, has been hit this year by a fall in global oil prices as well as by Western sanctions over its role in the Ukraine's crisis. The Energy Ministry confirmed Novak's quote to Reuters, adding that it was part of an interview with state-run Rossiya 24, the full version of which has yet to be aired.

06 Nov 2014

Sanctions Bite Russian Arctic Oil Shippers

Photo: United Shipbuilding Corporation

Shipping services that support Russia's attempts to extract oil from remote parts of the Arctic will run into difficulties as banks scale back energy financing due to Western sanctions, increasing transport costs for the frontier sector. Sanctions imposed on Russia by the United States and European Union over Ukraine have targeted the delivery of oil technology, goods and services, aiming to make it impossible for Moscow to access new oil sources. The world's largest energy exporter, Russia relies on oil and gas exports for about half its federal budget.

22 Oct 2014

Russian Minister to Intervene with Gazprom on Slovakia Gas Flow

Russia's Energy Minister Alexander Novak will intervene with Gazprom to raise reduced gas shipments to Slovakia to contracted levels, Slovakia's economy ministry said on Wednesday after bilateral talks in Moscow. Slovakia says natural gas flows to its national importer SPP have been reduced by up to 50 percent versus requested amounts since September 5, with Gazprom explaining the reduction by the need to fill up its storage. "Russia's energy minister made a public promise to (Slovak) Economy Minister Pavol Pavlis that he will personally intervene with the highest leadership of Gazprom to return supplies of gas for Slovakia to contracted levels because contract conditions need to be fulfilled," the ministry said in a statement.

05 Oct 2014

Russia Going Ahead with South Stream Gas Pipeline

South Stream gas pipeline design capacity 63 billion cubic meters per annum.

The Russia-led South Stream undersea gas pipeline is still going ahead, Energy Minister Alexander Novak was quoted as saying on Saturday, following concerns the European Union might be losing enthusiasm for the project. The natural gas pipeline, which will cost an estimated $40 billion, is designed to carry Russian gas to the centre of Europe on a route that bypasses crisis-hit Ukraine. The project has yet to be approved by the EU, which is trying to become less dependent on Russian gas. Supplies from Russia currently account for about a third of EU gas imports.

05 Aug 2014

Russian Oil Minister Says to Help Iran Sell Oil

Russia will help Iran to arrange shipments of its oil to markets, Russian Energy Minister Alexander Novak said on Tuesday. "Based on Iran's proposal, we will participate in arranging shipments of crude oil, including to the Russian market," he said in a statement after signing a five-year memorandum of understanding with his Iranian counterpart Bijan Zanganeh in Moscow. Neither Novak nor the memorandum gave any details on timing or possible volumes. Novak said the deal between the two sanction-hit countries would not violate international obligations. (Reporting by Katya Golubkova; Editing by Erica Billingham)

08 Jun 2014

Russia, Ukraine, EU to resume gas talks on Monday

Russia 's Energy minister Alexander Novak,

Moscow , Kiev and Brussels will restart Talks on Russian Gas Supplies on Monday to TRY to resolve a Dispute over price, a Russian Energy Ministry Official Said on Sunday. "The next (Round) of Trilateral Negotiations Tomorrow Evening will Take place in Brussels , "a spokeswoman for the Energy Ministry Said. Russia 's Energy minister Alexander Novak, his Ukrainian counterpart Yuri Prodan and the European Union 's Energy Commissioner Guenther Oettinger will Take Part in the Talks.

27 May 2014

Further Progress In Ukraine-Russia Gas Row - EU

Europe's Energy Commissioner said on Monday Ukraine and Russia had made further progress in a dispute over gas prices and his proposal that Ukraine to pay $2 billion of back debt by Thursday could pave the way for further talks on Friday. Speaking after three-way talks with Russia's and Ukraine's energy ministers, Guenther Oettinger said the two governments would study his proposal that Ukraine pay Russia $2 billion by Thursday and a further $500 million by June 7. Oettinger, acting as a mediator in the capital of his home country Germany, said if the governments agreed to the deal, further talks about the gas price from April could then be held from Friday. "We've achieved progress but we didn't achieve a breakthrough," Oettinger told reporters at a news conference in Berlin.

18 May 2014

Gazprom Soothes Europe Over Gas Supply Via Ukraine

Courtesy Gazprom

Russia's Gazprom assured European customers it would continue to supply their gas, after its threat to halts supplies to transit nation Ukraine next month over non-payment. Any shortfall would be the fault of Ukraine, chief executive Alexei Miller told Russian television. Moscow blamed theft by Ukraine for a disruption to exports in a previous dispute. Russia has warned that it will not supply Ukraine with gas in June unless Kiev pays in advance $1.66 billion by June 2, raising fears that gas piped to Europe through Ukraine could be affected.

14 May 2014

Ukraine Must Pay Up Front for Gazprom Gas Supplies

Image credit Gazprom

Gazprom inform that in a recent working meeting, Russian President Dmitry Medvedev tasked Gazprom to switch Ukraine to gas prepayment terms. The meeting involved Dmitry Medvedev, Russian Prime Minister, Alexander Novak, Russian Energy Minister and Alexey Miller, Chairman of the Gazprom Management Committee. Alexey Miller informed Dmitry Medvedev that Ukraine’s total debt for Russian gas, including for the past year, totaled USD 3.508-billion. It was pointed out that Ukraine had made small payments at the beginning of the year, but March and April deliveries hadn’t been paid off.

26 Apr 2014

Russia, Consumer States Discuss Gas Supply Via Ukraine

Alexander Novak

Russia's Energy Minister and the head of Gazprom discussed gas supplies via Ukraine with representatives of consumer countries Bosnia, Macedonia and Moldova on Saturday, Interfax news agency quoted the ministry as saying. Participants in the Moscow talks, including Russian Energy Minister Alexander Novak and Gazprom chief Alexei Miller, expressed concern that payment problems could result in a fall in the amount of gas crossing Ukraine to countries in south-eastern Europe. President Vladimir…

18 Apr 2014

Shell Commited To Russia Expansion Despite Sanctions

Meeting with Shell CEO Ben van Beurden. (Photo: The Presidential Press and Information Office)

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions imposed on the country after its annexation of Ukraine's Crimea region. Shell plans to expand Russia's only liquefied natural gas (LNG) plant with Russian partner Gazprom, he said at a meeting at Putin's residence. "We, of course, will pledge all the necessary administrative guidance and support," Putin said in response in a meeting that was later broadcast on national television.

25 Sep 2012

LNG Export Strategies on Agenda at London 'Russian Day'

The role of Russia as a key global supplier of natural gas will be amplified at upcoming 'Russian Day' event. The Russian Energy Minister, Alexander Novak, confirms he will host a special ‘Russian Day’ at one of the world’s leading gas industry events in London this October. The role of Russia as a key global supplier of natural gas will be examined during the day-long session, which also welcomes Novak’s Deputy, Pavel Fedorov, plus chief executives from petrochemical giant SIBUR and liquefied natural gas exporter, Sakhalin Energy. Other leading government and state energy executives will also be present to explore future investment and financing issues in Russian energy and project development.

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