Russia News

20 Jun 2019

FESCO Opens Routes to Ports of Chukotka

Image: FESCO

The largest intermodal transport operator in Russia FESCO Transportation Group started seasonal transportation to Anadyr and Egvekinot, the ports of the Chukotka Autonomous Region, under the Northern Supply Haul.General cargo ship “FESCO Pioner” set sail for Anadyr on June 13, 2019. FESCO vessel will deliver to Anadyr about 4 500 tons of containerized and general cargo.The approximate date of arrival of this general cargo ship to Chukotka is June, 22. Delivery of the goods on…

19 Jun 2019

MOL Safety Conference Held in 5 Countries

MOL Chairman Koichi Muto delivering his opening speech at the conference in Mumbai. Photo: MOL

Japanese transport company Mitsui O.S.K. Lines (MOL) held a "MOL Safety Conference 2019" for seafarers of the MOL group from February to end of May at 5 locations worldwide, which almost 800 seafarers have attended.The locations were Tokyo (Japan), Mumbai (India), Manila (Philippines), Dubrovnik (Croatia) and  Vladivostok (Russia).MOL Chairman Koichi Muto and President & CEO Junichiro Ikeda along with many other MOL executives and staff members participated in the conference to…

19 Jun 2019

Russia's Novatek Ships First LNG Cargo to Spain from Vysotsk

Russia's largest non-state gas producer Novatek has delivered a first liquefied natural gas (LNG) cargo to Spain from its Vysotsk plant, according to Refinitiv Eikon data.Novatek, Russia's top LNG producer, officially launched the Vysotsk plant on the Baltic Sea in April.According to the data, Novatek shipped a cargo of 9,500 cubic metres (6,000 tonnes) to the port of El Ferrol in Spain on June 15.The first line of Vysotsk plant has a capacity of 660,000 tonnes of frozen gas per year. Novatek has plans of expanding it by over 1.1 million tonnes annually with a second train.Refinitiv Eikon shipping data also showed the plant has shipped around 27 cargoes of LNG with total volumes of 250,000 cubic metres (around 160,000 tonnes) to Lithuania, Finland, Sweden and the Netherlands.

19 Jun 2019

OPEC Output to Remain Flat: Rystad

Photo: OPEC

OPEC and its allies, including Russia, can maintain their current cuts and not reduce outputs any more because there will be a crude oil demand surge later this year from changing shipping fuel standards worldwide.The OPEC+ countries will not be able to increase their collective oil production levels in the second half of 2019 without having a detrimental effect on oil prices. However, the production cuts required by OPEC+ in order to support prices need not be as much as 1.5 million barrels per day (bpd)…

18 Jun 2019

Two Yamal Arctic LNG Tankers to Start Sea Trials

A new Arc7 class ice-breaking liquefied natural gas (LNG) tanker, the Nikolay Urvantsev, is undergoing sea trials, Refinitiv data shows, becoming the 13th vessel to join a fleet servicing Novatek's Yamal plant.The vessel, previously known only as DMSE 2432, is owned by Mitsui OSK Lines (MOL) and was built at the Daewoo Shipbuilding and Marine Engineering (DSME) Okpo shipyard in South Korea. It is currently in the Korea Strait.Another Arc7 tanker, the Vladimir Voronin, is also undergoing sea trials. The Nikolay Yevgenov, meanwhile, which underwent sea trials in April, delivered its first cargo last week.The Yakov Gakkel, which had been due to begin operation next year…

14 Jun 2019

Analysis: Strait of Hormuz and the Risk of Escalation

© Peter Hermes Furian/Adobe Stock

The Strait of Hormuz, the narrow shipping lane between Iran and Oman named after the fabulously wealthy ancient kingdom of Ormus, has fascinated oil traders since the Iranian revolution in 1979. Iran has periodically threatened to close the strait to enemy shipping, while the United States and its allies have pledged to keep it open and maintain freedom of navigation, by force if necessary.The strait has become a symbolic flashpoint in the region-wide confrontation and indirect…

14 Jun 2019

French, Italian Shipbuilders Forge Naval Alliance

(Photo: Fincantieri)

France and Italy forged a military shipbuilding alliance on Friday, as state-controlled Naval Group and Fincantieri signed off on a 50-50 joint venture that will bid for Franco-Italian warship projects and sell to the world market.The alliance reflects the two countries' desire to fend off competition in naval shipbuilding from the likes of China, the United States and Russia.It is targeting orders worth up to 5 billion euros ($5.63 billion) over the next decade. Naval Group said the joint venture aims to build 10-15 warships in that period…

14 Jun 2019

Maersk Explores Arctic Shipping Route with Russia

© Artem / Adobe Stock

Shipping group A.P. Moller-Maersk said on Friday it is in talks with Russia's state-owned icebreaker operator to send more goods via the Arctic, which is becoming more accessible as climate change reduces the sea ice.Russia has made developing the so-called northern sea route (NSR) - which requires new ports and heavy icebreakers to move goods - a priority, with supporters dubbing the route the northern Suez Canal.Last summer, Maersk carried out what it said was a one-off trial…

14 Jun 2019

US Leads World Oil Reserves

Graph: Rystad Energy

The United States has a world-leading 293 billion barrels of recoverable oil resources, which is 20Bbbl more than Saudi Arabia and 100Bbbl more than Russia, with the Permian Basin leading that charge.Rystad Energy’s estimate of US recoverable oil is also five times more than officially reported proven reserves as published in the BP Statistical Review of World Energy 2019.Tight oil plays in the Permian Basin in Texas and New Mexico now hold 100 billion barrels of recoverable oil resources, according to Rystad Energy’s analysis.

13 Jun 2019

Elenger Begins LNG bunkering in Helsinki

Image: Eesti Gaas

Elenger, the subsidiary company of the Eesti Gaas group operating in foreign markets, started LNG bunkering in the port of Helsinki.The ship being bunkered is the same that Eesti Gaas bunkers in the port of Tallinn, the shuttle Megastar, which cruises between Helsinki and Tallinn.“While LNG bunkering is rather a rare sight in the port of Helsinki these days, it is bound to become one of routine operations in the nearest future: LNG will eventually replace diesel fuel among marine fuels…

11 Jun 2019

Sovcomflot Selects Orange for Maritime VSAT

Pic: Orange Business Services

Russian maritime shipping company specializing in petroleum and LNG shipping Sovcomflot has chosen Orange Business Services to deploy an advanced Maritime VSAT solution on eight vessels.According to a press release from the the business services arm of Orange S.A., this initial rollout will keep the ships connected even when operating on the high seas, improving safety and optimizing navigation in challenging conditions.In addition, this solution will make it easier for crews to stay in touch with friends and family…

11 Jun 2019

India to Evacuate Thousands as Cyclone Nears West Coast

Indian authorities are preparing to evacuate 300,000 people along the western coast as a severe cyclone is expected to make landfall on Thursday morning in the state of Gujarat.Storm Vayu, which formed in the Arabian Sea, is likely to cross the Gujarat coast with gust speeds as high as 135 kmph (84 mph), the India Meteorological Department said in a statement.It also warned the cyclone could further delay the progress of the annual monsoon rains over the rest of India, as the storm was drawing rain clouds from over the sea.The arrival of the monsoons on the southern coast of Kerala was already about a week late this year.Gujarat Chief…

11 Jun 2019

Finland Opens Largest Nordic LNG Terminal After Delay

Photo: Wartsila

Finland's 110 million-euro ($124.5 million) Manga liquefied natural gas import terminal has fully opened after a year-long delay to the project, engineering firm Wartsila and part-owner Gasum said on Tuesday.Manga, the largest LNG terminal in the Nordic region with storage capacity of 50,000 cubic metres, began receiving some shipments in November 2017, but is only now ready for full commercial operations after an additional year of tests.A Wartsila executive told Reuters the testing period had been prolonged due to some adjustments that the facility needed…

11 Jun 2019

Gazprom, Sovcomflot Pact on LNG Bunkering

Image: Sovcomflot

Russian shipping company Sovcomflot and compatriot oil producer Gazprom Neft Marine Bunker have signed an agreement to cooperate on projects for bunkering ships with LNG fuel.The agreement was signed by Igor Tonkovidov, Executive Vice President and CTO/COO of Sovcomflot, and Andrey Vasiliev, CEO of Gazprom Neft Marine Bunker.Sovcomflot said that the agreement reinforces the mutual interest of both parties regarding their cooperation in the bunkering of Sovcomflot’s tankers with LNG fuel.Compared to conventional marine fuels…

10 Jun 2019

Sovcomflot Wins VEB Funds for LNG-Fueled MR Tankers

The agreements were signed by Nikolay Kolesnikov, Executive Vice President and CFO of Sovcomflot (right), and Artem Dovlatov, CEO of VEB-Leasing (left). Photo: PAO Sovcomflot (SCF Group)

Sovcomflot, a Russian maritime shipping company specializing in petroleum and LNG shipping,  and VEB.RF Group announced the signing of agreements whereby VEB Leasing will finance the construction of three new LNG-fuelled MR tankers.Sovcomflot initially placed the order for these three tankers with the Zvezda Shipyard (Primorsky region) on 28 December 2018. The delivery of the vessels is scheduled for 2022-2023.Each tanker will have a deadweight of 51,000 tonnes, and they are intended to transport petroleum products and gas condensate…

10 Jun 2019

Partnership for Vietnam LNG-to-Power Project

Image: Total EP

Russia’s largest private gas producer Novatek will work alongside French multinational integrated oil and gas company Total, state-controlled compatriot oil company Zarubezhneft and Germany's Siemens on Vietnamese LNG-to-power project.The partners signed a Memorandum of Understanding (MOU) on cooperation in Vietnam.The MOU envisages developing of an integrated energy-generating project with the use of liquefied natural gas (LNG) within the Socialist Republic of Vietnam.“The Vietnamese…

10 Jun 2019

Novatek Pact with Chinese Duo on Arctic LNG 2

Image: Novatek

Russia's second largest natural gas producer, Novatek has signed share purchase agreements with two Chinese oil giants for the sale of participation interest in the Arctic LNG 2 project.Novatek announced that it has signed the Share Purchase Agreement with China National Offshore Oil Corporation (CNOOC) in relation to the sale of a 10% participation interest in the Arctic LNG 2 project.The Agreement will close in the nearest future subject to approval by regulatory authorities…

09 Jun 2019

Sibur and Sinopec Link on Amur JV

Pic: Sibur

Russian petrochemicals giant Sibur has signed several agreements with Chinese state-owned conglomerate China Petroleum & Chemical Corporation (Sinopec).One deal relates to Sinopec’s potential participation in Sibur’s previously announced Amur Gas Chemicals Complex (AGCC) in Russia’s Far East.Sinopec, Chinese oil and gas enterprise based in Beijing,  which bought a 10% stake in Sibur in December 2015, is expected to take a 40% share in the joint venture, subject to a final investment decision in the project…

09 Jun 2019

DP World Eyes Arctic Sea Route

Pic: DP World

Dubai-based ports operator DP World hopes to run ports that Russia plans to build along an Arctic sea route intended to shorten shipping times between east and west.The quadrilateral agreement of intent with Russian Direct Investment Fund, an investment fund of the Russian Federation, Rosatom, the infrastructure operator of the NSR and Norilsk Nickel, a world leader in the production of palladium and high-quality nickel, was signed, reported Reuters.The signed deal between the Emirati company and the Russian firms is not legally binding…

07 Jun 2019

Austria's OMV, Russia's Gazprom Sign Pact

Photo: OMV

Austrian integrated oil and gas company OMV and Russian energy giant Gazprom have signed a Memorandum of Understanding (MoU) for cooperation on Liquefied Natural Gas (LNG).The two companies had previously agreed that Gazprom will supply 1.2 billion cubic meters of LNG to OMV in 2020.On this basis, both partners have now agreed to continue the cooperation beyond the year 2020, including the sale and purchase of conventional and small-scale LNG cargo.In addition, both companies…

07 Jun 2019

Chinese Buyers Leave US LNG

Graph: Rystad Energy

Chinese buyers have avoided US LNG projects even before the tariffs hiked to 25%, said a report by  Rystad Energy.Despite the Chinese tariffs, there is still appetite for US LNG from other countries. Since the first tariff of 10% was introduced on US LNG in September 2019, the US has signed about 18 million tpa worth of new export agreements with buyers globally.Rystad Energy does not expect to see any new Chinese buyers of US volumes as long as the tariff is in force.And that could be crucial for some US projects as the Chinese LNG market is experiencing the largest import growth globally…

07 Jun 2019

Chinese, Russian Majors Ink Arctic LNG Deal

Photo: Sovcomflot (SCF Group)

Russia's second largest natural gas producer Novatek, Russian maritime shipping company specializing in petroleum and LNG shipping Sovcomflot, Chinese state-owned shipping and logistics services supplier company COSCO Shipping Corporation Limited, and the Chinese government owned investment fund Silk Road Fund, signed a four-party agreement to establish a joint venture Maritime Arctic Transport LLC.The focus of the Maritime Arctic Transport joint venture is to manage an icebreaking tanker fleet of Arctic ice-class vessels…

05 Jun 2019

Maersk Unveils its First Cold Store in Russia

Photo:Maersk Line

Danish international container shipping company A.P. Møller – Mærsk A/S (Maersk) has launched the construction of its new cold store facility in St. Petersburg to address the needs of a high-demand Russian market.The 3-chamber warehouse will offer specialised solutions extending the life cycle of perishable goods, said a press release from the business conglomerate with activities in the transport, logistics and energy sectors.On June 5th, 2019, the ground-breaking ceremony for the new warehouse took place in St.

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