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…
Novatek
Articles from Novatek
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…
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…
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…
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.
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…
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…
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…
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,…
Novatek Saw Record Natural Gas Sales in 2021 as Demand, Prices Soared
PAO Novatek, Russia’s largest independent natural gas producer, reported record natural gas sales last year as prices soared and demand jumped as the world recovered from the Covid-19 pandemic. The company said natural gas sales volumes, including liquefied natural gas (LNG), increased by 0.3% year/year in 2021 to 75.8 billion cubic meters (Bcm). Volumes sold…