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…
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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
Russia Moves for Control of Sakhalin-2 LNG, Jeopardizing Foreign Ownership Stakes
Russia is moving to further tighten its grip on the nation’s oil and natural gas supplies, issuing a decree for the country to take over the Sakhalin-2 liquefied natural gas (LNG) export project on Sakhalin Island north of Japan. An executive order signed by Russian President Vladimir Putin to “protect the national interests” calls for…
July 1, 2022
Russian LNG Exports Still Climbing Despite Calls to Limit Transactions
Russia’s liquefied natural gas (LNG) exports remained strong in March and surpassed year-ago levels despite efforts by some buyers to curb purchases from the pariah state. Russian LNG exports increased by 19% year/year to 3.1 million tons (Mt) last month, according to shipbroker Banchero Costa. Shipments from the country were also 25% higher than they…
April 13, 2022
Goldman Sees European Natural Gas Prices Headed Higher — The Offtake
A roundup of news and commentary from NGI’s LNG Insight Goldman Sachs Commodities Research has lifted its TTF price forecast on tighter European supply/demand balances. TTF has climbed 20% in the past month. Goldman said it does not believe lower Russian pipeline imports are the reason why European gas markets have become so tight. Residential/commercial…
July 20, 2021
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