Novatek: Yamal LNG Financing in 2-3 Months
Russian gas producer Novatek expects its Yamal LNG project to secure external financing in the next 2-3 months, Interfax news agency quoted Leonid Mikhelson, Novatek chief executive, as saying on Wednesday. Western sanctions imposed over Moscow's role in the Ukraine crisis have made it harder for Novatek to raise funds for the Yamal project, which is due to start producing liquefied natural gas (LNG) in 2017. (Reporting by Polina Devitt; Editing by Alexander Winning)
Major Agreement Signed At 21st World Petroleum Congress
At the 21st World Petroleum Congress Rosneft, Ministry of Industry and Trade of the Russian Federation, Gazprom, NOVATEK, Gazprombank, Sovkomflot, United Shipbuilding Corporation signed a Joint Venture Agreement in relation to the implementation of vessel, drilling rig and marine equipment construction and design projects on the 16th of June. The document was signed in the presence of Vice-Premier Arkady Dvorkovich. It was signed by Rosneft CEO and Management Board Chairman Igor Sechin…
Rosneft President Meets DSME's CEO On Shipbuilding Cluster
On 15th of June, 2014 Rosneft President, Chairman of the Management Board Igor Sechin held talks with CEO of DSME Jae-ho Ko on establishment of a shipbuilding cluster. The event was also participated by Chairman of the Management Board of OJSC Gazprombank Andrey Akimov, President and Chief Executive Officer of Sovcomflot Sergey Frank, President of JSC United Shipbuilding Corporation Alexey Rakhmanov and Chairman of the Management Committee of NOVATEK Leonid Mikhelson. The parties discussed the progress of the project on establishment of a shipbuilding cluster in the Far East of Russia implementation. In particular, the proposal of Rosneft to form a single site for all shipbuilding contracts of Russian customers on the basis of OJSC Far Eastern Center of Shipbuilding.
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, will receive another $6 billion in investment this year. Novatek's chief financial officer Mark Gyetvay, who was on the same call, said that the overall capital investment of Novatek is seen at 40 billion roubles ($689.42 million) in 2017. (Reporting by Denis Pinchuk; Writing by Andrey Ostroukh)
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. Novatek, which was put on the list of Russian companies sanctioned by the West over Moscow's role in the Ukraine crisis…
Novatek Inks Agreements with Japanese Companies on Gas
Novatek, Russia's second biggest gas producer, said on Friday it had signed agreements with Japan's Mitsui & Co, Mitsubishi Corp and Marubeni Corp to cooperate in liquefied natural gas and other energy sectors. Japan, lacking fuel resources, is the world's largest importer of the gas while Russia wants to boost its global LNG market share, currently less than 5 percent. Novatek's Chief Executive Leonid Mikhelson said the agreements focused on potential gas production, gas liquefaction and liquefied natural gas transport. Novatek is interested in LNG trading with the three Japanese trading companies, he said. Marubeni said in a statement that it would explore opportunities to develop upstream and midstream areas for the Arctic LNG-2 project which Novatek is newly implementing…
Daewoo's World's First Icebreaking LNG Carrier for Russia Launched
Daewoo Shipbuilding and Marine Engineering (DSME) launched on Friday the world’s first icebreaking liquefied natural gas (LNG) carrier at its Okpo shipyard in Geoje, South Gyeongsang. It was the first ship to be launched for Russia’s Yamal project and part of a 15-ship order that is supposed to help turn around the troubled shipbuilder. The SCF Yamal - first Arc 7 ice-classed LNG carrier classed for breaking through over 2 meters of ice, and can carry 170,000 cubic meters of liquefied gas.
Novatek CEO: Sanctions Hurt Yamal LNG, Upbeat on Plans
International sanctions have undermined the ability of Russia's Yamal LNG project to raise necessary funds but it will be launched as scheduled, Leonid Mikhelson, head of the plant's main shareholder, said in a televised interview on Tuesday. The company, co-owned by Gennady Timchenko, an ally of President Vladimir Putin, was placed under U.S. sanctions in 2014, soon after the final investment decision had been taken on the Yamal project in late 2013. The punitive measure makes it harder for the company, Novatek, to raise external debt. "Of course, technical difficulties due to sectoral sanctions against Novatek and automatically against Yamal LNG ... there are difficulties with attracting credit financing," Mikhelson told the state-run Rossiya-24 TV channel.
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, CFO Mark Gyetvay said.
Children’s Day at Gazprom Transgaz Saratov
On May 31 and June 1, 2014 . Over two thousand children from the Saratov, Tambov and Penza Regions took part in sports competitions, environmental quizzes and cheerful celebrations with performances by entertainers and company’s amateur creative teams. he volunteers of the Our Concern youth association jointly with the PR and Media Relations Service organized a charity celebration for the patients of the anti-tuberculosis health resort patronized by the company for ten years already.
Shipping Company's Losses Total $110M
Ukraine's Danube Shipping Company lost $110 million due to military action in Yugoslavia last year that destroyed bridges and blocked traffic along the Danube, transport minister Leonid Kostyuchenko said. NATO launched air strikes last year on Yugoslavia, which it accused of ethnic cleansing in the province of Kosovo, densely populated by ethnic Albanians. Kostyuchenko said collapsed bridges had blocked 63 Ukrainian ships on upper stretches of the Danube. Due to the disruption of the shipping, Ukraine's Danube ports were now working at just 40 percent of capacity, he said. This is not the first time Ukrainian companies suffer from problems in Yugoslavia.
Russian Navy to Order Supply Ships
Severnaya Verf shipyard won the governmental contract in the Russian Defense Ministry's online open auction for three ARC4 ice-class seagoing supply vessels. The auction was held by the Federal Agency for Military Procurements Rosoboronpostavka. Once the contract is signed, Severnaya Verf will start metalworking for the first supply ship no later than in Dec 2012. The shipyard will deliver the first vessel in Nov 2014, the second one – in Nov 2015, and the third one – in Nov 2016. Through recent years, the shipyard has exported two offshore drilling platform replenishment ships.
Russian Aircraft Carrier Recommissioned
Russian Carrier 'Admiral Kuznetsov' returns to service after modernization at Murmansk branch of JSC Zvezdochka Ship Repair Center. The carrier (project name was Sovetsky Soyuz) was laid down at Chernomorsky Shipyard in Nikolayev on Sept 1, 1982 having original name of Riga and launched on Dec 4, 1985 under the name of Leonid Brezhnev. On Aug 11, 1987 she was renamed Tbilisi and on Oct 4, 1990 the carrier changed its name to Admiral Flota Sovetskogo Soyuza Kuznetsov. The ship joined Northern Fleet on Jan 20, 1991.
Another Ship Captain Arrested
Ukrainian prosecutors arrested the captain of a ship which sank en route from Istanbul to Ukraine's Crimean peninsula and charged him with breaking transport safety laws. The Pamyat Mercuria (Memory of Mercury) sank during a storm on Friday, killing 14 people. Rescuers plucked 32 survivors from lifeboats and rafts in the Black Sea on Sunday and Monday, after days spent floating in the cold waters. Ships and aircraft were still searching the sea off the southern tip of the peninsula on Tuesday for five people still missing. "The captain of the ship Leonid Ponomarenko is currently in custody," Volodymyr Rebrov, Crimea's deputy public prosecutor, told reporters. If found guilty Ponomarenko could face up to 15 years in prison.
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. Following the completion of the deal, Novatek will own 50.1% stake in Yamal LNG, Total and CNPC will hold 20% each, while SRF will have a 9.9% stake in the Arctic LNG project.
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…
Russia to Build Permanent Syrian Naval Base, Eyes Other Outposts
Russia will create a permanent naval base in Syria to expand its military footprint in its closest Middle East ally, a government official said on Monday, a week after Moscow said it was considering reopening Soviet-era bases in Vietnam and Cuba. The move, announced by Russian Deputy Defence Minister Nikolai Pankov, is further evidence Russia is building up its capabilities in Syria despite a partial drawdown in March and another sign it is digging in for the long haul to help prop up President Bashar al-Assad.
Sname Technical Program: 2004 SNAME Technical Program
(All information is current as of July 30, 2004. A1(D16) - Shipboard Routing Assistance – Decision Making Support for the Operation of Container Ships in Heavy Seas by Hans G. B1(D40) - Development and Investigation of the Ballast-Free Ship Concept, by Miltiadis Kotinis, Michael G. A2(D26) - Criteria for Parametric Roll of Large Containerships in Longitudinal Seas by Y.S. Shin, V.L. Belenky, J.R. Paulling, K.M. Weems, W.M. B2(D39) - Computational Fluid Dynamics Study of the Effectiveness of Flow-Through Ballast Exchange by Christopher P. Kent, Michael G. B3(D13) - Compressed Natural Gas Carrier Development – The Knutsen PNG Concept by Sverre Valsgård, Kim J. A5(D42) - U.S. Coast Guard Cutter Maneuverability by R. Sheinberg, P. Minnick, J.
Genetic Yacht Lab Maps Sea Life Looking for Cures
A team of scientists has begun collecting the genomes of sea creatures off the Florida coast in the hopes that unmapped species, some of which have the capacity to reverse disease and injury in themselves, may hold the key to new treatments for humans. Of about 250,000 marine species identified so far, scientists have sequenced the genetic material of only about three dozen, according to University of Florida neuroscientist Leonid Moroz. To speed up the process of making potential new discoveries, a team led by Moroz used a yacht loaded with a fully equipped genomic laboratory to do the sequencing on the ocean in real time. The scientists sequenced 22 organisms during two test runs off Florida's Atlantic coast near the Bahamas over two weeks ending in early April, Moroz said.
Ship Noise Guide Updated
Controlling shipborne noise is always a concern for vessel designers, builders and outfitters. The two most widely distributed documents are IMO's Resolution A.468(XII), "Code on Noise Levels Onboard Ships," issued in 1981 and the USCG's Navigation and Vessel Inspection Circular (NVIC) 12-82, "Recommendations on Control of Excessive Noise," issued in 1982. These two documents generally discuss methods to reduce shipboard noise, recommend noise limits and describe how to measure noise on ships. One year after the USCG issued the NVIC 12-82, a group of acoustical engineers from the consulting firm of Bolt Beranek and Newman (BBN), completed a report that is not as well known, which is still available from SNAME.
An Energy SuperPower
Russia is an energy superpower and the country has vast and rich natural resources. Besides gas and coal reserves (some of the largest in the world), Russia today is ranked as the world’s biggest oil producing nation accounting for well over 12% of the global output. Moreover, the country exports more than 70% of its oil to the world markets. That said, Russia’s output of oil amounts to a third of what collectively the Organization of Petroleum Exporting Countries (OPEC) produces. The country has relied on oil production for decades, however there has been a notable geographical shift.
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.
Novatek Starts Production at Yamal LNG
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.