Page 10 - FSUOGM Week 23
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FSUOGM INVESTMENT FSUOGM
Saudi Aramco still set on Arctic LNG-2 stake
RUSSIA
THE Saudi Aramco energy major is extending its o er for a stake in Arctic LNG-2 plant of Rus- sian gas producer Novatek, “expecting that the bid will be accepted”, the Minister of Energy of Saudi Arabia Khalid Al-Falih told Russia’s TASS on June 10.
In May uncon rmed reports claimed that Saudi Aramco had given up the plans to acquire up to 30% in Arctic LNG-2 a er 20% stake in the project was sold to Chinese companies CNOOC and CNODC. e Russian company previously closed a deal to sell a 10% stake in its French stra- tegic partner Total.
Previous reports suggested that a 30% stake was the subject of negotiations with Saudi Ara- mco, while companies from Japan and South Korean Kogas were also interested in acquiring a share in the plant. e botched negotiations
with Novatek threw shade on ambitious Rus- sian-Saudi investment plans, with extra US$2 billion of investments announced in the end of 2018.
However, Al-Falih reiterated Saudi interest in launching joint projects with Russian petro- chemical major Sibur, and possibly even enter- ing the company’s capital. Saudi Aramco was reportedly in talks with Sibur, eyeing a joint ven- ture that would produce synthetic rubber in the Gulf kingdom.
Other potential investments included Rus- sian Direct Investment Fund (RDIF), together with Saudi Arabian Public Investment Fund (SAPIF) and Saudi Aramco buying 30% of Rus- sian oil services company Novomet, possibly to expand the venture in the future to include the major Eurasian Drilling Company.
Kolomoisky associate seeks return as head of pipe operator
UKRAINE
A close associate of Ukrainian oligarch Ihor Kol- omoisky, Oleksandr Lazorko, has challenged his 2015 dismissal from the post of the chairman of the board of Ukraine’s state-owned oil pipeline monopolist Ukrtransna a.
Last week, Lazorko led three claims to the Ministry of Justice and the state registrars of Kyiv’s Pechersky District State Administration with the demand to recognise their 2015 actions that led to his replacement as illegal, as well as to cancel their decisions, according to news agency Interfax.
Lazorko was dismissed following the nation’s parliament’s motion to approve a bill reducing the quorum needed to call a shareholders meet- ing in any publicly traded company to 50+1 per cent from 60+1 per cent previously.
The law is aimed at increasing the
government’s control over Ukrainian oil giant Ukrna a, in which the state, via Na ogaz, con- trols a 50%+1 stake. e private holders linked to Kolomoisky control about 42% of the company’s shares and have operating control via its man- agement, whom the state could not replace with 60% AGM quorum rules.
e same moment, Ukrtransna a’s supervi- sory board replaced Lozorko from the compa- ny’s post of the board chairman.
Police had to forcible enforce the change of management decision, allegedly injuring several people in the process. Lazorko’s dismissal was initiated by then Energy Minister Volodymyr Demchyshyn, who alleged that Lozorko deliber- ately allowed Ukrtransna a to pay Kolomoisky’s companies excessive amounts for storage of “technologicaloil”.
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w w w . N E W S B A S E . c o m Week 23 12•June•2019
