Novatek

EU Parliament Exploring Ban on Re-Exporting Russian LNG from Bloc’s Ports

EU Parliament Exploring Ban on Re-Exporting Russian LNG from Bloc’s Ports

The European Commission (EC) this week is considering a ban on transshipments or re-exports of Russian LNG through European Union (EU) ports as part of Brussels’ latest sanctions package.  The UK, Poland, Estonia, Latvia, Lithuania, and Germany have banned Russian liquified natural gas imports, but an EU-wide ban on Russian LNG imports is not included…

May 7, 2024
Russian LNG Output Reportedly Down Amid Western Sanctions – Three Things to Know About the LNG Market

Russian LNG Output Reportedly Down Amid Western Sanctions – Three Things to Know About the LNG Market

NO. 1: The Biden administration has rejected a proposal from House Speaker Mike Johnson (R-LA) to tie a national security package to a temporary pause on new LNG export authorizations.  Johnson reportedly wanted to advance aid for Ukraine and Israel in exchange for lifting the pause imposed in January by the Biden administration. The administration…

April 4, 2024
Japan Weighs Energy Security Impacts After U.S. Sanctions Arctic LNG 2

Japan Weighs Energy Security Impacts After U.S. Sanctions Arctic LNG 2

The latest round of U.S. sanctions against Russian energy assets targeted at the Arctic LNG 2 project is creating uncertainty for Japanese stakeholders. PAO Novatek, Russia’s largest independent natural gas producer, launched development of the three-train, 19.8 million metric ton/year Arctic LNG 2 on the Gydan Peninsula  in 2018 with plans to boost liquefied natural…

November 27, 2023
Russia Wants to Triple LNG Exports by Opening More of Its Natural Gas Fields

Russia Wants to Triple LNG Exports by Opening More of Its Natural Gas Fields

Russia aims to nearly triple LNG exports to 100 million metric tons/year (mmty) by 2030 by expanding the list of natural gas fields allowed to export the super-chilled fuel, Prime Minister Mikhail Mishustin said in a televised government meeting earlier this month. Draft amendments aimed at achieving that goal would “legally free up reserves for…

March 22, 2023
Novatek Discovery Boosts Natural Gas Reserves for Arctic LNG 1

Novatek Discovery Boosts Natural Gas Reserves for Arctic LNG 1

PAO Novatek has discovered a prolific natural gas and condensate field it plans to use to boost the resource base for its Arctic LNG 1 project as it furthers its goal of growing Russian exports. Novatek, Russia’s largest independent natural gas producer, reported it has found a field on the Gydan Peninsula in the far…

December 21, 2022

TotalEnergies Withdraws Directors From Novatek in Shift Away from Russia – The Offtake

TotalEnergies SE is withdrawing its representatives on PAO Novatek’s board and said it would stop accounting for its 19.4% stake in the company.

December 9, 2022
Russian LNG Exports Continue to Grow as Kremlin Targets Expansions

Russian LNG Exports Continue to Grow as Kremlin Targets Expansions

Russian LNG exports to Europe are on the rise despite the continent’s efforts to diversify natural gas supplies and impose a series of sanctions against the country for its war in Ukraine. Most of the liquefied natural gas exported from Russia to Europe has been sourced from PAO Novatek’s Yamal LNG facility in the country’s…

November 28, 2022
Russia’s Grip on Sakhalin Strengthens with ExxonMobil’s Exit

Russia’s Grip on Sakhalin Strengthens with ExxonMobil’s Exit

Russia’s control of global oil and natural gas supplies, and particularly LNG, has progressed with ExxonMobil’s exit from the Sakhalin-1 offshore oil project. ExxonMobil disclosed exited Sakhalin-1 after Russian President Vladimir Putin signed a decree expropriating the supermajor’s 30% stake “With its two recent decrees, the Russian government unilaterally terminated our interests in Sakhalin-1, and…

October 24, 2022
Russian LNG Projects Face Continued Uncertainty as Kremlin Consolidates Control

Russian LNG Projects Face Continued Uncertainty as Kremlin Consolidates Control

President Vladimir Putin’s latest decree to stop sales of Russian energy assets, leaves the status and progress of Russia’s liquefied natural gas (LNG) projects in disarray.  The decree takes full control of the 9.6 mmt/y Sakhalin-2 project in Russia’s far east. Shell plc has already said it plans to divest its 27.5% stake in the…

August 23, 2022
Novatek’s LNG Export Projects Hit by Global Sanctions Against Russia

Novatek’s LNG Export Projects Hit by Global Sanctions Against Russia

Russia’s largest independent gas producer, PAO Novatek, is struggling with its two liquefied natural gas (LNG) projects in the country’s Far North under the latest European sanctions imposed against Russia.   Novatek’s first operating export facility, Yamal LNG, is finding it difficult to secure European buyers. And the delay in the construction of its second project,…

May 25, 2022
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