Russia News

18 Jan 2019

World Seaborne Coal Trade Rose 3.7% in 2018

A bulk carrier loading coal in Port of Gdansk, Poland (© Nightman / Adobe Stock)

World coal seaborne trade grew 3.7 percent last year helped by higher output in India, Indonesia and Russia, Germany's VDKI coal importers lobby said on Friday.Imports and exports rose to 1.202 billion tonnes from 1.159 billion tonnes in 2017, VDKI Managing Director Franz-Josef Wodopia said in an speech made available to Reuters.Of the total, trade in steam coal used in power stations rose by 3.6 percent to 920 million tonnes.Trade in coking coal used for steelmaking rose by 4.4 percent to 281 million tonnes…

17 Jan 2019

CMA CGM Unifies Containerships and MacAndrews Brands

 Image: MacAndrews

CMA CGM will retain the only Containerships brand for its intra-European operations, giving up MacAndrews, which had already erased OPDR."Containerships: from April 1st, 2019 a single brand resulting from the union of two experts of intra-European transport CMA CGM reinforces its strategy aimed at densifying its regional coverage to the benefit of its clients," said a press release from MacAndrews.According to the French container transportation and shipping company, by joining the forces of two recognized experts of intra-European multimodal transport…

17 Jan 2019

Novatek Production Rose 6.9% in 2018

Pic: Novatek

Russia's largest independent natural gas producer Novatek said that total hydrocarbon production during 2018 increased by 6.9%, and had increased sales of gas."In 2018, Novatek’s hydrocarbon production totaled 548.4 million barrels of oil equivalent (boe), including 68.81 billion cubic meters (bcm) of natural gas and 11,800 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 35.1 million boe, or by 6.9% as compared with the twelve months 2017…

15 Jan 2019

Weak Freight Markets Hobble Sovcomflot IPO

(Photo: Sovcomflot)

Russian state-owned shipping company Sovcomflot said on Tuesday that uncertain conditions in the freight market are delaying its long-planned initial public offering (IPO).The Russian government has weighed a listing of Sovcomflot for years as part of broader privatization plans, but obstacles ranging from weak markets to international sanctions placed on Russians over Moscow's role in Ukraine crisis have prevented an IPO.The Russian economy ministry has said it had hoped to raise…

10 Jan 2019

Russian President Commissions Kaliningrad LNG Terminal

Launch of a gas-receiving terminal and floating storage regasification platform in Kaliningrad Region. Photo: President of Russia Website

Russian President Vladimir Putin inaugurated a liquefied natural gas (LNG) import terminal that will serve as a back-up gas supply solution for the Russian enclave of Kaliningrad on the Baltic Sea. The facility includes floating storage regasification unit (FSRU) in Baltic Sea enclave.Gazprom CEO Alexei Miller said: "The floating storage regasification platform is currently moored at the receiving terminal; that platform will convert LNG into gas to pump into the underground facility…

07 Jan 2019

Two Dead as Bulker in Distress in the Black Sea

Two people died and another four were missing on Monday after a ship carrying coal sent a distress signal off the northern coast of Turkey, the coast guard and the local governor's office said.The Panama-flagged vessel, which departed from Russia's Azov port, sent out a distress signal around 148 kilometers (92 miles) off the northeastern Black Sea province of Samsun, the coast guard said.Thirteen crew members were on the bulk carrier including nine Ukraine nationals, two Azerbaijan nationals and two Russians, the Samsun governor's office said.The coast guard said the distress signal was received regarding a "possible sinking" of the ship.Seven members of the crew had been rescued so far while a search and rescue operation continued for the other four, the coast guard said.

06 Jan 2019

Moody's Says Global Oil and Gas Heads into 2019 on Steady Footing

Pic: OPEC

The global Oil and natural gas prices will be volatile, but also range-bound in 2019, Moody's Investors Service says in its annual report outlining key credit themes in oil and gas for the year ahead.While the recent announcement that OPEC and Russia will cut production helps alleviate concerns about oversupply, the pivotal questions in the coming year are whether OPEC and Russia will maintain their production discipline and what might happen in June, when the current agreement expires.Moody's expects the medium-term price band for West Texas Intermediate (WTI) crude…

03 Jan 2019

Oil Shipments from Georgia's Batumi Port Drop 51 pct in 2018

Photo: Batumi Sea Port

Oil and oil-related shipments from Georgia's Black Sea port of Batumi fell 51.2 percent in 2018 from a year earlier, an official at a KazMunaiGas-operated terminal at the port said on Thursday.Some crude oil was re-routed to the Baku-Tbilisi-Ceyhan pipeline and to the Caspian Pipeline Consortium last year, the official added, while some fuel oil was sent to the port of Taman in Russia and Georgia's other Black Sea port of Kulevi.The fall in shipments is partly because Azerbaijan prefers to send its oil through the Baku-Tbilisi-Ceyhan pipeline or via its own terminal in Kulevi, rather than from

02 Jan 2019

Novatek, Saibu Gas Ink MoU

Image: Novatek

Russia's largest independent natural gas producer Novatek said it had agreed with Japan's Saibu Gas to study the possibility for the Russian company to enter the Japanese energy market.Novatek said in a press release that PAO Novatek and Saibu Gas Co Ltd signed a  Memorandum of Understanding (MOU), whereby the parties agreed to consider potential cooperation to enter the end-customer market and optimize Novatek’s LNG portfolio supplies to the Asia-Pacific region by utilizing Hibiki…

01 Jan 2019

IRClass Opens Office in Saudi Arabia

Pic: Indian Register of Shipping

The classification society Indian Register of Shipping (IRClass), has made significant inroads into the Middle East market, following the announcement in October on its plans to further strengthen its footprint in the region.IRClass said in a press release that it has received authorisation as a Recognised Organisation (RO) from The Hashemite Kingdom of Jordan – opening doors of opportunities of shipping companies to the classification society.Further, IRClass has also received authorisation as RO from the Kingdom of Bahrain’s Port and Maritime Authority.

26 Dec 2018

Soldier-run PDVSA and AWOL Oil Output

© natanaelginting/Adobe Stock

Last July 6, Major General Manuel Quevedo joined his wife, a Catholic priest and a gathering of oil workers in prayer in a conference room at the headquarters of Petroleos de Venezuela SA, or PDVSA.The career military officer, who for the past year has been boss at the troubled state-owned oil company, was at no ordinary mass. The gathering, rather, was a ceremony at which he and other senior oil ministry officials asked God to boost oil output."This place of peace and spirituality…

26 Dec 2018

Prelude FLNG Starts Production in Australia

(Photo: Shell)

Royal Dutch Shell said on Wednesday it has begun output at its Prelude floating liquefied natural gas (FLNG) facility in Australia, the world's largest floating production structure and the last of a wave of eight LNG projects built in the country over the last decade.Though the project started up later and cost more than originally estimated, it is expected to further cement Australia's lead as the world's biggest LNG exporter, after the country took the crown in November.In a statement…

24 Dec 2018

China to Push LNG Shipbuilding

Image: Hudong-Zhonghua Shipbuilding (Group) Co

China would like to compete with South Korea in the field of building liquefied natural gas (LNG) carriers building.South Korea has won 86 percent of the world's total orders or 52 orders for LNG carriers so far in 2018, according to Clarkson Research. The remaining nine orders were shared by companies from China, Singapore and Japan.Though China leads offshore engineering products and mega container vessel shipbuilding sectors, the country is a laggard in LNG shipbuilding.A recent report in the country's official media China Daily quoted Tan Naifen…

22 Dec 2018

Arctic LNG 2 Signs Agreement on GBS Construction

Russian natural gas producer Novatek's next LNG project, Arctic LNG 2, has signed an agreement on the design and construction of gravity-based structures (GBS).The Russian company SAREN, a joint venture of Renaissance Heavy Industries Russia (RHI Russia B.V.) and SAIPEM S.p.A, will perform the work. The agreement provides for the design and construction of three GBS platforms for the Project’s natural gas liquefaction trains. The scope of work under the contract includes management, design, supply of materials and equipment, construction of three GBS structures at the NOVATEK-Murmansk plant, as well as commissioning and preparation for operations, including towing and installation of the GBS structures.

22 Dec 2018

Arctic LNG 2 to Buy Nuovo Pignone Turbines

Russia's largest independent natural gas producer PAO Novatek announced that its next LNG project, Arctic LNG 2 and Nuovo Pignone (Italy) signed an agreement on turbo machinery equipment.The the seventh largest publicly traded company globally by natural gas production volume said in a press release that the agreement provides for the supply of gas turbine compressors and gas turbine generators for the three liquefaction trains for the Arctic LNG 2 project.“Our partnership with Nuovo Pignone extends back to 2013 as they supplied gas turbine compressors for the three liquefaction trains of our Yamal LNG project.” noted Leonid Mikhelson, Novatek's Chairman of the Management Board.“For Arctic LNG 2, we need the unique turbo machinery to produce 6.6 million tons of LNG per annum.

19 Dec 2018

Russian Novatek, Italian SACE in LNG Pact

Image: Novatek

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…

19 Dec 2018

Italy's Saipem Strikes Deal with Turkish Renaissance for Arctic LNG-2

Image: Saipem

Italian oil and gas industry contractor Saipem and Turkey's Ronesans signed a joint venture (JV) agreement for infrastructure construction for Russian Federation's Arctic LNG-2 project.Saipem said the contract for the construction of the project is worth EUR 2.2 billion (USD 2.5 billion).As leader of the JV, with a shareholding of 50%, Saipem’s portion of the total amount is therefore approximately 1.1 billion Euro, it said.The contract has been awarded by the company Artic LNG 2…

18 Dec 2018

Sovcomflot completes USD 900 mln in Foreign Investment

Nikolay Kolesnikov, Senior Executive Vice-President and CFO of Sovcomflot (sitting in the centre) together with the signees from KfW IPEX-Bank, Credit Agricole, ING Bank, Societe Generale, Citibank, UniCredit, and DVB Bank (sitting, from left to right). Photo: Sovcomflot

Russia’s maritime shipping company Sovcomflot has announced that it has entered into a new USD 264 million six-year revolving credit facility with a consortium of five leading international banks.The completion of this credit facility marks the successful finalisation of SCF’s 2018 financing plan, with total new debt capital raised this year amounting to circa USD 900 million, said Nikolay Kolesnikov, Senior Executive Vice-President, Chief Financial Officer of PAO Sovcomflot."The fund allows us to fully address the Group’s mid-term financing requirements…

18 Dec 2018

Lithuania Plans to Buy an FSRU

(Photo: Hoegh LNG)

Lithuania has given the go ahead to state-owned Klaipedos Nafta to purchase a liquefied natural gas (LNG) storage vessel by late 2024, as it shores up energy supplies and reduces its reliance on Russian natural gas.Klaipedos Nafta is currently leasing a floating storage and regasification unit (FSRU), called Independence, from Norway's Hoegh LNG.The use of the vessel has allowed Lithuania to import LNG since 2014, breaking the monopoly Russia's Gazprom had on natural gas supply to the country as well as neighboring Latvia and Estonia."This will keep us able…

17 Dec 2018

Russia's First FSRU to Arrive at Kaliningrad to Start Up LNG Imports

Russia's first liquefied natural gas (LNG) floating storage and regasification unit (FSRU) is expected to dock at the port of Kaliningrad on Dec. 18, a source familiar with the matter told Reuters.The FSRU, called Marshal Vasilevskiy, is being installed at Kaliningrad - a city separated from Russia and bordering with Lithuania and Poland - by Russian energy major Gazprom in a move to bypass pipeline gas deliveries via Lithuania in case there are any disruptions in gas transit.The FSRU will be the first LNG import facility in Russia, the world’s second largest gas producer.The vessel is currently anchored outside the port of Kaliningrad…

12 Dec 2018

Yamal LNG Reaches Full Capacity

Image: Novatek

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…

11 Dec 2018

Arctic Posts Second Warmest Year On Record in 2018 -U.S. NOAA

Photo: NOAA

The Arctic had its second-hottest year on record in 2018, part of a warming trend that may be dramatically changing earth's weather patterns, according to a report released on Tuesday by the U.S. National Oceanographic and Atmospheric Administration."Arctic air temperatures for the past five years have exceeded all previous records since 1900," according to the annual NOAA study, the 2018 Arctic Report Card, which said the year was second only to 2016 in overall warmth in the region.It marks the latest in a series of warnings about climate change from U.S.

11 Dec 2018

Russia's Novatek Plans to Speed Up LNG Reloading After U.S. Criticism

Photo courtesy of Novatek

Leonid Mikhelson, the head of Russia's gas producer Novatek, said on Tuesday the company will need to speed up construction of liquefied natural gas (LNG) reloading facilities after Washington slammed Norway for helping it to tranship gas.Allowing ship-to-ship transfers in Norwegian waters from Yamal in Arctic Russia, one of the world's largest liquefied natural gas (LNG) terminals, undercuts Europe's energy diversification efforts, the U.S. State Department said last month.Mikhelson…

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