Page 10 - FSUOGM Week 17

FSUOGM PIPELINES & TRANSPORT FSUOGM
CCC wins Arctic LNG-2 contracts
RUSSIA
CCC also worked at Novatek’s Yamal LNG project.
COMPRESSOR Controls Corp. (CCC), a division of US-based Roper Technologies, announced on April 22 that it had been awarded several contracts by Russia’s Novatek relating to the Arctic LNG 2 project.
CCC, which specialises in LNG turboma- chinery controls, noted that the contracts marked an extension of its collaboration with Novatek. It had previously worked on turboma- chinery optimisation and standardisation for the Russian company’s Yamal LNG project, which entered service in 2017.
Arctic LNG 2 will consist of three liquefaction trains, each with a capacity of 6.6mn tonnes per year, for a combined capacity of 19.8mn tpy. The project is located in the Yamal-Nenets Autono- mous Region’s Gydan Peninsula.
Under the contracts, CCC will oversee the turbomachinery controls and optimisation of centrifugal compressors and expanders for all three of the facility’s trains. The company said that in addition to spearheading anti-surge, per- formance, quench and other advanced controls, it would provide an emulator for use during plant simulation.
“These contracts recognise CCC’s perfor- mance on the Yamal LNG project and allow us to continue strengthening our partnership with Novatek,” CCC’s director of global projects, Osama Abou Shabab, stated. “We’re proud that Novatek has entrusted our global team to control all critical and non-critical machines in its hall- mark Arctic LNG 2 project. CCC’s field-tested, proven control techniques and algorithms will maintain and improve the project’s targeted RAM.”
The trains for Arctic LNG 2 will be built using gravity-based structures (GBS) – a concept that Novatek describes on its website as innovative. The company is cutting costs related to its spend- ing on the project by sourcing equipment and materials within Russia.
TechnipFMC was awarded the engineering, procurement and construction (EPC) contract for Arctic LNG 2 last year. The contractor also worked on Yamal LNG, and said it would be lev- eraging its track record with modular fabrication on that project as it proceeded with Arctic LNG 2.
The first train at the $21bn terminal is antici- pated to enter service in 2023.™
INVESTMENT
Russian oil major Rosneft maintains dividends despite weak market
RUSSIA
Earlier smaller-sized Russian oil firm Tatneft cancelled its dividends for 2020.
THE board of Russian state oil major and coun- try’s largest crude producer Rosneft recom- mended the payment of RUB18.07 per share in its final dividend for 2019, which makes a total payout of RUB33.4 per share or RUB354bn ($4.8bn). The payout is in line with the com- pany’s pledge to pay 50% of IFRS net profit to shareholders.
As reported by bne IntelliNews, after Tat- neft regional oil major and TMK pipe producer cancelled their guided dividends for 2020, ana- lysts feared that large state oil majors (Rosneft, Gazprom Neft, Gazprom, Transneft) might fol- low suit, theoretically opting to use the right to postpone the FY19 dividend payout for several months.
But Rosneft followed its guidance and will pay the highest dividend in history, up from RUB111bn seen in 2017 and RUB274.5bn in 2018. The dividend yield is estimated at 11% by the analysts surveyed by Vedomosti daily.
In 2019 the company posted record-high net profit of RUB805bn (RUB708bn attributable to
shareholders), up by 24%. The top line was up 5.3% to RUB8.68 trillion, due to a 20% surge in oil sales compensating a 6.2% decline in oil prices.
To remind, the bulk of dividends of Rosneft will first trickle down to state-controlled Ros- neftegaz holding (50% plus one share), headed by the influential CEO of Rosneft, Igor Sechin. The holding previously repeatedly dodged the Finance Ministry’s 50% of IFRS profit require- ment. ™
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Week 17 29•April•2020