Arctic News

 

Russian-led Arctic Oil Project to Cost $157 Bln

Oct 28, 2019

A ambitious new Arctic oil project led by Russia's top oil producer Rosneft will require about 10 trillion roubles ($157 billion) of investment, Russia's deputy energy minister Pavel Sorokin told reporters.Vostok Oil, a joint project of Rosneft and Independent Petroleum Company (IPC), is set to include some oil fields that are already producing and others which have yet to start, including Rosneft's Vankor group and IPC's Payakhskoye field…

Russia: Arctic Offshore Oil Feasible at $130/bbl

Sep 10, 2019

The head of Russia's Rosnedra subsoil agency said on Tuesday that the development of the Pobeda (Victory) offshore Arctic oilfield in the Kara Sea is feasible only at oil prices of $130 to $140 per barrel, Interfax news agency reported.Rosneft…

Green Light for Arctic LNG 2

Sep 06, 2019

The $21.3 billion Arctic liquefied natural gas (LNG)-2 project on the Gydan Peninsula headed by the Russian largest independent natural gas producer Novatek won a green light on Thursday.The project will have a production capacity of 19.8 million…

Russia Open to Private Firms Developing Arctic

Sep 04, 2019

Russia's natural resources and environment minister said on Wednesday he supported allowing private oil and gas companies to work on the Arctic shelf.Speaking to reporters at an economic forum in the far eastern Russian city of Vladivostok, the minister…

Novatek Wins Arctic Gas Field

Sep 01, 2019

Novatek said that its wholly-owned subsidiary Arctic LNG 1 has won an auction for a geological survey, exploration and production license for the subsoil area including the Soletsko-Khanaveyskoye gas field.The license is located on the Gydan peninsula in Yamal-Nenets Autonomous Region…

July: Earth's Hottest Month Ever Recorded

Aug 16, 2019

According to the latest monthly climate report from the U.S. National Oceanic and Atmospheric Administration (NOAA), July 2019 was hottest month on record for the planet and Polar sea ice melted to record lows.Much of the planet sweltered in unprecedented heat in July…

Green Group Asks Cosco to Avoid HFO in Arctic

Aug 12, 2019

Clean Arctic Alliance has sent its second letter to Cosco, in which the NGOs urge the Chinese liner company to make public what fuel types its vessels use in the Arctic.Responding to reports that the 190m-long COSCO-owned cargo vessel Tian’en…

Saipem Joins JV for Arctic LNG2 Project

Aug 05, 2019

Italian oil and gas industry contractor Saipem reached a deal on Friday to participate in a joint engineering venture for a liquefied natural gas (LNG) project in the west of Siberia.The subsidiary of Eni said in a press release that it has…

Vladimir Rusanov Opens Northern Sea Route

Jul 26, 2019

Russian natural gas producer Novatek announced that the Arc7 ice-class LNG tanker 'Vladimir Rusanov' completed the Northern Sea Route (NSR) passage via the Eastern direction, delivering an LNG cargo from the Yamal LNG project, at the port of Sabetta…

TechnipFMC Wins $7.6 Bln Contract

Jul 24, 2019

Oil services company TechnipFMC won a $7.6 billion contract with Russia's Novatek and its partners for the Arctic 2 liquefied natural gas project in western Siberia, pushing TechnipFMC's shares higher.TechnipFMC's Paris-listed shares rose 3…

Novatek Closes in on Arctic LNG 2

Jul 23, 2019

Russian natural gas producer Novatek said it had completed the sale of stakes in its Arctic LNG-2 project to two Chinese companies and a consortium of two Japanese companies.The second largest natural gas producer in Russia announced the closing…

Last Yamal LNG Arctic Ships on Sea Trials

Jul 22, 2019

The last of 15 Arc7-classed tankers ordered for the liquefied natural gas (LNG) production plant Yamal LNG in Russia's Arctic north are undergoing sea trials around a South Korean shipyard, Refinitiv Eikon shipping data showed on Monday.The…

Chinese, Russian Majors Ink Arctic LNG Deal

Jun 07, 2019

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…

Novatek in Arctic LNG 2 Deal with TechnipFMC

May 21, 2019

Russian largest independent gas producer and liquefied natural gas (LNG) player Novatek signed a deal with TechnipFMC for its Arctic LNG 2 project.The contract was signed on engineering, procurement, supply, construction and commissioning (EPC)…

Gazprom Finds New Yamal Offshore Fields

May 17, 2019

Russian state gas producer Gazprom has discovered two new offshore fields in the Yamal region with total reserves of more than 500 billion cubic meters (bcm), the company said on Friday.The fields are located in the Kara Sea and hold 390.7 bcm and 120…

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