Total, Novatek Pact for Arctic LNG 2 Project
In the presence of the President of the Russian Federation, Vladimir Putin, and the President of the French Republic, Emmanuel Macron, Total has signed an agreement with Novatek outlining the terms upon which Total shall acquire a direct working interest of 10% in Arctic LNG 2, a giant liquefied natural gas project lead by Novatek on the Gydan Peninsula in the north of Siberia. Taking account of Total’s approximate 19% stake in Novatek and Novatek’s intention to retain 60% of the project, the Group's overall economic interest in this new LNG project will be approximately 21.5%.
France's Macron Calls for Global Trade Reform
French President Emmanuel Macron on Wednesday said it was time for the world's biggest economic powers to start talks on reshaping World Trade Organization rules to prevent current tensions spiraling into trade wars.Macron's comments before the Paris-based Organization for Economic Cooperation and Development (OECD) came as the European Union faced less than 48 hours to win an exemption from U.S. tariffs on European aluminium and steel."This is about a complete update of global competition rules…
Novoship Celebrates 50th Anniversary
On January 19-20, 2017 Novorossiysk Shipping Company (Novoship), a subsidiary of SCF Group, hosted special events dedicated to the company’s 50th anniversary. The anniversary ceremony was attended by Victor Olersky, Deputy Minister of Transport of the Russian Federation, Head of the Federal Marine and River Transport Agency (Rosmorrechflot); Alexey Kondratenko, Member of the Federation Council of the Federal Assembly of the Russian Federation; Evgeniy Moskvichev, Chairman of the State Duma Transport Committee…
Gazprom Extends Gas Contract with Austria’s OMV
Russian gas firm Gazprom has signed a new deal to extend the existing gas supply contract with Austria’s OMV until 2040. Under the existing contract between Gazprom Export and OMV Gas Marketing & Trading, Gazprom agreed to supply gas to OMV until 2028. The document was signed in the presence of Vladimir Putin, President of the Russian Federation, and Sebastian Kurz, Federal Chancellor of Austria, as part of the celebrations marking 50 years of supplies of Russian gas to Austria.
Vladimir Putin Urges Ukrainians to Negotiate With Rebels
Ukrainian government troops and pro-Russian separatist forces on Sunday fierce fighting, which makes the Ukrainian authorities to make further unilateral ceasefire declared by pressure. Meanwhile, Russian President Vladimir Putin urged the Ukrainian authorities to negotiate with the rebels. Russia and Ukraine were held in Nazi Germany invaded the Soviet Union anniversary, Putin and Ukrainian President Poroshenko emphasized the need to achieve peace in eastern Ukraine. Friday night…
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…
Rosneft & Cupet to Cooperate at Brownfields, Cuba
On July 11, Head of Rosneft Igor Sechin and General Director of Union CubaPetroleo (CUPET) Juan Torres Naranjo signed in Havana the Agreement on Cooperation in the Area of Enhanced Oil Recovery at Brownfields. The Agreement was signed in the presence of the Russian President Vladimir Putin and the President of the State Council of Cuba Raul Castro. The document provides for the joint activities concerning comprehensive studies of field development and well production conditions in the territory of Cuba.
North Korea Launches Ferry Service to Russia
North Korea launched a ferry service to the Russian city of Vladivostok on Wednesday to develop links and boost economic cooperation, the North's state media said, as it faces increasing isolation over its weapons development. Experts have said North Korea's leader, Kim Jong Un, may be hoping closer ties with Russia would help if China, the North's main economic benefactor, steps up sanctions against it over its weapons programmes, in defiance of U.N. resolutions. Russian President Vladimir Putin said on Monday that while Moscow was opposed to any new countries acquiring nuclear weapons…
North Korea's New Ferry Service Makes First Trip to Russia
A new ferry line between isolated North Korea and its neighbour Russia docked for the first time at the Russian Pacific port of Vladivostok on Thursday. The ferry's Russian operators say it is purely a commercial venture, but it coincides with what some academics say is a drive by North Korea's leader, Kim Jong Un, to build ties with Moscow in case its closest ally China turns its back. Journalists were unable to see passengers disembarking from the ship, the North Korean-flagged Mangyongbong, because Russian officials kept them away from the quayside, citing unspecified security reasons. Reuters television was able to speak to three passengers, who said they were representatives of Chinese tourism agencies.
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.
Russia to build 15 Tankers at South Korean Shipyards
Fifteen tankers will be built at South Korean shipyards to transport the products of the Yamal LNG plant, TASS cites Russian President Vladimir Putin as saying. “We have noted with satisfaction the successful cooperation in the energy sector: South Korean companies are participating in the Sakhalin-1 and Sakhalin-2 projects, we are working on the issue of increasing purchases of liquefied natural gas,” the report quoted President Putin. Besides, Vladimir Putin marked the advantages…
Brent Crude at 27-month High Even as U.S. Exports spike
Saudi Crown Prince takes bullish stance on supply cut deal; U.S. crude inventories show surprise build even as crude exports hit new record four-week average. Brent crude closed at a 27-month high on Thursday as the market focused more on comments from Saudi Arabia about ending a global supply glut instead of an unexpected increase in U.S. crude inventories and high U.S. production and exports. Brent futures gained 86 cents, or 1.5 percent, to settle at $59.30 a barrel, its highest close since July 3, 2015. U.S.
Rosneft, NIOC Ink Cooperation Deal
Russian oil producer Rosneft and the National Iranian Oil Company (NIOC) have agreed an outline deal to work together on a number of “strategic” projects in Iran together worth up to $30 billion, Reuters reported quoting Rosneft’s head Igor Sechin as saying. The potential collaboration with Iran would further strengthen Rosneft’s position in the Middle East, the company having already secured a number of deals in the region, including the acquisition of a majority stake in Iraqi Kurdistan’s main oil pipeline.
Iran, Russia Rail Link as Rival to Suez Canal
Russia and Iran plan railway link through Azerbaijan that would aim to grab a share of the cargo now being shipped through the Suez Canal, reports Tasnim. Russia’s transport minister, Maxim Sokolovm, said Tehran and Moscow are considering establishing a rail link that would foster trade connectivity through a less trodden path than the Suez Canal. The International North-South Transport Corridor (NSTC), a multi-model route to link India and the Middle East to the Caucasus, Central Asia and Europe, is being nurtured for significantly reducing costs and travel time and boosting trade.
U.S. Commerce Chief Ross Reportedly Divests Shipping Interests
According to a Reuters report, U.S. Commerce Secretary Wilbur Ross has divested his interests in oil tanker company Diamond S Shipping and is in the process of selling off his holdings in another shipping firm, Navigator Holdings, a Trump administration official said earlier this week. Ross had originally intended to retain his shipping interests following his confirmation in February. But the 79-year-old investor came under criticism after disclosures on Sunday that one of Navigator's major clients is the Russian gas company Sibur…
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.
Christophe de Margerie Moves 1st Yamal LNG Cargo
On 8 December 2017, the icebreaking LNG carrier Christophe de Margerie completed her first loading at the Port of Sabetta, on the Yamal Peninsular, with her first cargo of liquefied natural gas (LNG) produced at the Yamal LNG plant. The ceremony was attended by: the Russian President Vladimir Putin, together with Sergey Belousov, Aide to the President; Sergey Donskoy, Russia’s Minister for Natural Resources and Environmental Protection among others. Vladimir Putin said: “This is a remarkable day for us all.
Russia Honours First British Arctic Convoy, 75 Years On
British and Russian World War Two veterans gathered on Wednesday in Arkhangelsk, 75 years to the day since Britain's first Arctic convoy of military supplies steamed into the northern port. Britain's Princess Anne has been among those attending events honouring those who sailed, and the thousands who died, protecting supply convoys dispatched to aid the Soviet Union against Nazi Germany. On Aug. 31, 1941, two months after Hitler's surprise attack on his erstwhile ally prompted Josef Stalin to seek support from a beleaguered Britain, the first convoy, codenamed "Dervish", sailed into Arkhangelsk, or Archangel, after a 10-day crossing.
Russia, Japan Discuss Islands Dispute 'In-depth'
Russia's President Vladimir Putin and Japan's Prime Minister Shinzo Abe agreed on Friday to draw up proposals this year to end a row over a group of disputed islands that has bedevilled relations between their countries for over 70 years. The dispute stems from the Soviet Union's decision, in the final days of World War Two, to seize the islands - known in Japan as the Northern Territories and in Russia as the Southern Kuriles - that Tokyo says are its sovereign territory. Concessions over the islands would carry risks for Putin but could boost Japanese investment in Russia at a time when Moscow, battered by low global oil prices and Western sanctions, badly needs an injection of cash.
Russia to Halt Oil Products Export via Foreign Baltic Ports
Russia plans to fully halt exports of oil products from other than Russian ports on the Baltic Sea by 2018, the head of oil pipeline monopoly Nikolai Tokarev told President Vladimir Putin on Monday. Russia will increase the shipments via its own ports instead, Tokarev said, according to a transcript of the meeting published on the Kremlin website. Russia has been gradually cutting oil and oil products exports via foreign ports on the Baltic Sea, such as Latvia's Ventspils as it has built its own shipments facilities in the ports of Primorsk and Ust-Luga. (Reporting by Vladimir Soldatkin; Editing by Lidia Kelly)
Russia to Lease Second Submarine to India
Russia has agreed to lease a second nuclear attack submarine (SSN) to to the Indian Navy, as part of enhanced bilateral defence cooperation, in a deal which will cost around $2 billion. A transfer agreement had been signed to lease a second nuclear submarine of project 971, in the Indian state of Goa, reports the ‘Vedomosti’ newspaper. Sources said the deal was struck during the meeting between Prime Minister Narendra Modi and Russian President Vladimir Putin on October 15 on the sidelines of the BRICS meet in Goa.
Russia's Grip on Biggest Port Operator Tightens
Moscow tightened its grip on Russia's biggest port operator on Friday, making a government official chairman and ousting representatives of the only private shareholder from the board.The changes follow the arrest last month on organized crime and embezzlement charges of Ziyavudin Magomedov, head of the Summa conglomerate which with a joint venture partner owns a 50.1 percent stake in the port operator. He denies the charges.Several senior Russian business executives have said the prosecution would allow the state to extend its control over the Russian economy…
With Eye on Russia, US Navy Reestablishing Its Second Fleet
The United States Navy is re-establishing its Second Fleet, responsible for the northern Atlantic Ocean, nearly seven years after it was disbanded as the Pentagon puts countering Russia at the heart of its military strategy.“Our National Defense Strategy makes clear that we’re back in an era of great power competition as the security environment continues to grow more challenging and complex,” Chief of U.S. Naval Operations Admiral John Richardson said on Friday.“Second Fleet will exercise operational and administrative authorities over assigned ships…