Page 18 - FSUOGM Week 36 2019

FSUOGM
NEWS IN BRIEF
FSUOGM
as 19 countries around the world. Particular attention at the meeting was
paid to cooperation on small- and mid-scale LNG.
Gazprom, September 5 2019
Gazprom Gazomotornoye
Toplivo, Gazpromneft
Marine Bunker, and USC
agree on strategic pact
Oleg Melekhin, Director General of Gazprom Gazomotornoye Toplivo, Alexey Medvedev, Acting Director General of Gazpromneft Marine Bunker, and Alexey Rakhmanov, President of United Shipbuilding Corporation (USC), today signed at the 5th Eastern Economic Forum in Vladivostok a Memorandum of Cooperation and Strategic Partnership.
The document was signed in the presence of Alexey Miller, Chairman of the Gazprom Management Committee, and Georgy Poltavchenko, Chairman of the Board of Directors of USC.
The Memorandum provides for joint efforts in expanding the use of liquefied natural gas (LNG) as a fuel for marine transport in Russia.
The parties intend to cooperate in developing LNG-powered vessels, interacting with potential consumers from among shipping companies, building infrastructure for LNG bunkering, and creating an up-to- date legal and regulatory framework for the use of LNG as a motor fuel.
“We see significant potential in using LNG as a fuel for sea and river vessels thanks to
its economic and environmental advantages. The newly-signed Memorandum will allow the parties to consolidate their efforts and expertise in this strategic area,” said Oleg Melekhin.
Gazprom, September 5 2019
Rosneft holds round table
with Japanese business
representatives
As part of the 5th Eastern Economic Forum, Rosneft has held a round table with leading representatives of the energy industry of Japan and heads of major Japanese corporations. Participants of the event discussed the prospects of cooperation and the existing projects of Rosneft and Japanese companies.
The event was attended by Deputy Commissioner of the Agency for Natural Resources and Energy at the Ministry of Economy, Trade, and Industry (METI) Hirohide Hirai, Managing Executive Officer of Marubeni Akihiko Sagara, Chairman of the Board of SODECO Masanori Toyoshima, Senior Executive Officer of JGC Corporation Masahiro Aika, Member of the Board and Executive Vice President of Mitsui O.S.K. Lines Takeshi Hashimoto, Deputy General Manager of Oil & Gas Upstream Business Development Department of ITOCHU Corporation Tetsuya Yamada, and General Director of Mitsubishi Heavy Industries Russia Yukihiko Okumura. The event was also attended by METI Director for Oil
and Natural Gas Division Masato Sasaki, representatives of JOGMEC, JBIC bank, and many others.
Rosneft Chief Executive Officer Igor Sechin addressed the participants of the event with a welcoming speech.
“Russia has a unique resource base and
is a close neighbour of your country. And
we value the relationship of trust with Japanese companies; our partnership with them is extremely important for Rosneft. We recognise technological competences of our Japanese colleagues and the business conduct of Japan, which is known for hard work and perseverance. Working with such partners is reliable and comfortable”, the Head of Rosneft said.
Japanese companies were among the pioneers to invest in promising oil and gas projects in Russia. Igor Sechin reminded that the Japanese consortium SODECO
has been jointly working with Rosneft at
the Sakhalin-1 production project since the mid-90s. The accumulated output at the Sakhalin-1 project has already reached 114 million tonnes, and 26 billion cubic metres of gas has been delivered to the consumers. «This year, shareholders made a decision to build our own LNG plant in De-Kastri with a capacity of 6.2 million tonnes. Its products will be much in demand in Japan due to the geographical proximity of the two countries”, Igor Sechin noted.
He also stressed that Rosneft has been a reliable fuel supplier to Japan for many years. Since 2016, the Company has delivered over 10 million tonnes of crude and oil products to the country, worth almost $5 billion. Rosneft’s supplies accounted for a third of the scope of the Japanese import from Russia in 2018.
“Currently we are discussing some infrastructure projects on storing crude and oil products in Japan. We welcome the interest of our Japanese partners in production projects in Russia”, the Company’s Chief Executive Officer told.
He said that Rosneft offers its Japanese partners stakes in 15 promising upstream and downstream projects.
With reference to this, Igor Sechin emphasised the Vostok Oil project bearing strategical importance that would comprise the resource bases of Vankorskoye, Lodochnoye, Tagulskoye, Suzunskoye, Paiyakhskoye and other fields of Krasnoyarsk Krai. Vostok Oil will be the anchor consignor for the Northern Sea Route. “Now the Russian Government is working on a scope of tax incentives for the implementation of the country’s most important region’s potential”, the Head of Rosneft said.
Rosneft, September 5 2019
Transneft suggests reserve for Druzhba compensation
Russian oil pipeline major Transneft proposes setting up a reserve for paying compensations on Druzhba pipeline disruptions based on January-September 2019 financials, Interfax reported on September 5 citing the First VP of the company Maksim Grishanin.
This week Russia’s largest oil company Rosneft argued that Transneft has not yet resolved the issues with paying compensations and diluting the contaminated oil from Druzhba that has been pumped back to Russia.
Grishanin, in turn, argued that Transneft did not receive any compensation claims and thus cannot adequately estimate the total amount to be paid, thus the need of setting up the reserve.
Polish oil major PNK Orlen said this week that it was too early for it to confirm the compensation of $15 per barrel proposed by Transneft, as the damage and extra cost estimations are still on its way, according to Reuters.
As reported by bne IntelliNews, the revenues of Tatneft were flat q/q at $3.4bn in 2Q19 under IFRS, despite 9% q/q increase in oil price, due to 20% export duty q/q increase and issues related to crude contamination in Druzhba pipeline system.
bne IntelliNews, September 6 2019
First Russian LNG-powered tanker ships to China
Russian maritime shipping major Sovkomflot launched a 250-meter long Korolev Prospect tanker from Murmansk, that will travel via the Bering Strait to reach China by the Northern Sea Route by September 14.
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Week 36 11•September•2019