Christophe de Margerie Arrives in Zeebrugge
Christophe de Margerie, the world’s 1st top category ice-class LNG carrier, docked at Zeebrugge LNG terminal January 20, 2017, for a series of scheduled operations. Christophe de Margerie will be delivered to Sovcomflot on 31 January, says Seafarers’ Union of Russia (SUR). The 'YamalMax' ship was built by Daewoo Shipbuilding Marine Engineering (DSME) in South Korea for its Russian shipowner Sovcomflot, a leading Russian shipping company. Billed as the most powerful LNG carrier on the water…
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.
US Could Get First LNG Import from Russia despite Sanctions
A vessel that may be carrying liquefied natural gas from Russia's new Yamal LNG export terminal could be heading to the United States despite sanctions against the company that operates the Russian facility, according to a report by S&P Global Platts and Thomson Reuters shipping data. The tanker Chris. De Margerie picked up a cargo from Novatek PAO's Yamal facility, Russia's second LNG export terminal, on Dec. 9 and dropped it off at National Grid Plc's Isle of Grain LNG facility near London on Dec. 28, according to Thomson Reuters data.
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, and is capable of travelling through ice up to 2.1m thick.
Russia Sends LNG Through Northern Sea Route
Russia was now pitching itself as an important transporter of European gas to Asia, reports Sputnik quoting Danila Bochkarev, a senior fellow at the EastWest Institute in Brussels. The Russian supertanker Christophe de Margerie is en route to South Korea, sailing the Northern Sea Route with a load of liquefied natural gas (LNG) from Norway. The shipment is a major step for Russia’s Sovcomflot to enter the global gas transportation market said the report. The Northern Sea Route…
Total CEO Calls for Increased Use of the Euro
French oil giant Total's chief executive officer (CEO) Christophe de Margerie said on Saturday, although they can not do without the dollar, but the euro should play a more important role in international trade. BNP Paribas was after U.S. regulators astronomical fines, some have called on the EU level to find ways to enhance the euro in international trade. Margerie was in answer to questions related to this. "To get rid of dollars, which is unrealistic, but if you increase the use of the euro will benefit," he told reporters. He also said that although oil is quoted in U.S.
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, said a press statement from SCF Group quoting Sergey Frank, President and CEO of PAO Sovcomflot.
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 traditional route. The start…
Total Names Refining Boss to Replace de Margerie
French oil company Total has appointed refining boss Patrick Pouyanne as chief executive to succeed Christophe de Margerie who was killed in a plane crash in Moscow this week. Pouyanne, 51, head of refining, had been considered as possible candidate to succeed de Margerie in the past and has a reputation as a shrewd cost-cutter. The world's fourth largest oil company also named Thierry Desmarest, a former Total CEO, as non-executive chairman. The appointments came less than 48 hours after de Margerie's death.
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. On March 30 the vessel’s master…
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 Yamal Peninsula, in the western part of Siberia. The icebreaking LNG carrier, 299 meters long and 50 meters wide, can carry 173,600 cubic meters of LNG.
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 way of prelude.
Oil Major Total Close to Angola Kaombo Decision
French oil major Total is on the verge of making a final investment decision on Angola's Kaombo oil project after lowering the cost by $4 billion, its chief executive said on Friday. "We're on the verge," Christophe de Margerie told reporters on the sidelines of an oil conference in Paris. The field is expected to produce 230,000 barrels of oil equivalent per day, with a start-up date expected in 2017. Sonangol P&P has a 30 percent stake in the project, Sonangol Sinopec International has 20 percent, ExxonMobil's Esso unit holds 15 percent and Total owns the remaining 30 percent.
Total CEO: EU Must Fight US Crude Export Law
First major public appearance of new Total head; he challenges European politicians to fight US ban. The new head of French energy major Total challenged Europe to fight Washington over the U.S. oil export ban, in his first public appearance since his predecessor Christophe de Margerie was killed in a Moscow plane crash last week. Patrick Pouyanne said on Thursday the export ban flouts free-trade agreements and puts European and Asian refiners at a disadvantage, making a bold appeal to European politicians. "We need to fight and put this topic on the table," Pouyanne said during a sometimes emotional appearance at London's annual Oil & Money conference, where de Margerie had been a popular speaker over the years. "I hope the European Commission raises this issue ...
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 thinned…
Total CEO Killed in Moscow Runway Accident
Private jet collided with snow plow during takeoff; Total's CEO a defender of Moscow policies. Insiders Boisseau and Pouyanne long seen as potential successors. The chief executive of French oil major Total, Christophe de Margerie, was killed when his private jet collided with a snow plough as it was taking off from Moscow's Vnukovo airport on Monday night. De Margerie's death leaves a void at the top of one of the world's biggest listed oil firms at a difficult time for the industry as oil prices fall and state-backed competitors keep them out of some of the best oil exploration territory.
Total Refinery Plans Revealed by Next Spring
La Mede/Lavera plant merger project failed; Total may invest 300 mln euros in La Mede near Marseille. Total, Europe's biggest oil refiner, is giving itself until the spring of 2015 to review its options for the French refining sector, which could include capacity cuts but no site closures, union sources told Reuters on Friday. Total's European refining margins have dropped to near four-year lows this year, as the sector struggles to compete with more efficient plants in the Middle East, overcapacities in Europe and a decline in gasoline and diesel consumption. The French group held a works council meeting on its refining strategy on Thursday evening, where head of refining Patrick Pouyanne replied to a list of 25 questions presented by unions on the future of the industry in France.
TOTAL & LUKOIL To Develop Tight Oil In Bazhenov
Total signed today an agreement with Lukoil creating a joint venture (JV) to explore and develop the tight oil potential of the Bazhenov play in Western Siberia. Total will hold 49% of the JV and Lukoil 51%. This agreement finalizes the memorandum of understanding signed between the two companies in December 2013. The JV will assess the technical feasibility of developing the tight oil potential of the Bazhenov formation initially on 4 licenses covering an area of 2,700 km² in Khanty-Mansi Autonomous District. Seismic acquisition will start in 2014 and exploration drilling will follow in 2015.
Total CEO Plane Crash: Russian Prosecutors Detain More Suspects
Russian prosecutors detained four Moscow airport workers and denied bail to the driver of a snow plough which hit a private jet killing the CEO of French oil company Total earlier this week, officials said on Thursday. Russia's investigative committee has moved quickly to detain those it says might be responsible for the crash, which killed Christophe de Margerie in a tragedy which has done little to improve Russia's reputation for poor air safety. The chief executive of Moscow's Vnukovo airport and his deputy resigned over the crash, but some critics have accused investigators of trying to find a scapegoat by accusing the driver of the snow plough, 60-year-old Vladimir Martynenko, of being drunk. His lawyer denied the allegations.
Market Volatility Affects Sovcomflot
Sovcomflot is one of the world’s leaders in energy shipping as well as in servicing offshore upstream oil and gas projects. It has reported lower time charter equivalent revenue (TCE) of USD 1,142.2 million (2015: USD 1,240.1 million), EBITDA of USD 706.5 million (2015: USD 780.1 million) and net profit of USD 206.8 million (2015: USD 354.5 million). Sergey Frank, President and CEO of Sovcomflot said: “Sovcomflot has delivered a solid set of results for 2016, despite market volatility in a year that has severely tested our industry.
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…
U.S.-bound LNG Tanker with Russian LNG Diverted
A liquefied natural gas (LNG) tanker probably carrying some supply from a Russian export project has been diverted from the United States, ship-tracking data shows. Engie's Gaselys LNG tanker was diverted on Friday from the Everett terminal in Boston, Massachusetts, where gas prices have tapered off since spiking during a cold snap. The vessel picked up the cargo from storage tanks at Britain's Isle of Grain import terminal in early January. The delivery to the United States was unusual because the LNG at Isle of Grain's tanks also contained some supply from Russia's new Yamal export plant.
Rosneft, BP To Explore For Shale Oil In Russia
Rosneft and BP signed an agreement on Saturday to jointly explore for hard-to-recover oil in Russia, the first major deal for the state-run Russian oil company since the West imposed sanctions over Ukraine in March. Rosneft chief executive Igor Sechin, a close ally of President Vladimir Putin, has been targeted by U.S. sanctions along with some other members of Putin's so-called inner circle following Russia's annexation of Crimea from Ukraine in March. Western energy bosses saved the St Petersburg International Economic forum from a complete failure by effectively standing by Russia as heads of top banks and many other firms did not show up for fear of reprisals over the sanctions.