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Heirs of deceased Russian billionaire to

sell LNG project to German kickboxer

PROJECTS & THE heirs of deceased Russian billionaire Dmi- implement the project, transferring a 50.1%
COMPANIES try Bosov are negotiating the sale of the Pechora stake to the state oil company.
LNG export project in northern Russia to a The project’s small size and remoteness had
company founded by German kickboxer Chalid raised doubts about its feasibility. This perhaps
Arrab, RBC reported on June 25 citing sources. explains why the government decided not to
Bosov, who committed suicide in early May, grant the partners a licence to export LNG, effec-
owned Alltech group, which in turn controls tively leaving their resources stranded without a
100% of Pechora LNG. But Bosov’s heirs want to market. The pair also considered the construc-
divest the project to Arrab’s Lloyds Energy, RBC tion of a gas-based petrochemical plant at the
The project’s small size claims. site, but this plan too was dismissed as unrealis-
and remoteness had Alltech has been searching for a buyer for tic. Rosneft sold its share back to Alltech in 2018.
raised doubts about its Pechora LNG for some time. The project con- Even without LNG production, the assets
feasibility. sists of the Korovinskoye and Kumzhinskoye still have value, given their close proximity to the
gas fields in Russia’s far northern Nenets region. Layavozhskoye and Vaneyvisskoye gas deposits
They are estimated to contain 160bn cubic that Gazprom is looking to develop with Lukoil.
metres of gas and 3.9mn tonnes of condensate in Bosov died from a self-inflicted gunshot
ABC1+C2 reserves. wound at his home in Usovo, in the Moscow
Alltech had wanted to use these resources region, on May 6. His main assets were Siberian
to underpin the construction of a liquefaction coal producers Sibanthracite group and Vostok-
terminal. It teamed up with Rosneft in 2015 to Coal MC.™

NEWS IN BRIEF

AMERICAS growing demands of customers. Combining ASIA
the two companies leverages each
Thigpen Solutions and organisation’s ability to provide near-term Hudong-Zhonghua signs
and long-term supplies of both compressed
Blue Roads Solutions join natural gas (CNG) and liquefied natural gas LNG shipbuilding contract
(LNG) along with offering a host of turn-
together in commitment key solutions that enable customers and Hudong-Zhonghua Shipbuilding, a subsidiary
utilities to gain the maximum economic and
of China State Shipbuilding, has signed a
to offer leading mobile environmental advantages of natural gas. contract to build three LNG carriers worth
3.9bn yuan ($551.62mn).
“A core value proposition in merging
and off-pipe natural gas these companies is creating one of the largest Transportation, a unit of COSCO Shipping,
China’s COSCO Shipping Energy
natural gas solutions providers serving the oil
solutions nationwide and gas sector, utilities, industrial companies, will operate the carriers, which will each
have a capacity of 174,000 cubic metres.
asphalt and aggregate producers, and remote
BP Energy Partners (BPEP) announced today power generation installations across the US,” The carriers will ship LNG for PetroChina
it is merging Dallas, TX-based Blue Roads said Alex Szewczyk, managing partner at International, which is part of China National
Solutions, and Conroe, TX-based Thigpen BPEP. Petroleum Corp. (CNPC).
Solutions, creating an innovative, full-service, “This expands the capabilities of the two According to a Hudong-Zhonghua
leading player in the virtual pipeline industry. firms from regional delivery to a nationwide spokesperson cited by Reuters, the carriers
The name of the newly combined firm will presence, with our promise of best-in-class will adopt the XDF type of propulsion and
be Sapphire Gas Solutions. service,” said Sam Thigpen, CEO of Sapphire a membrane type containment system. The
Sapphire will be based in Conroe, Gas Solutions. “We will offer a greater set spokesperson also said the three ships were
Texas, and will be led by Thigpen founder of solutions to our diverse and expanding due to be delivered between late 2022 and
and CEO Sam Thigpen. Justin Cordon, a customer base. Additionally, by combining early 2023.
BPEP operating executive and the current these two service-oriented companies, we The signing of the contract comes as China
chief operating officer of Blue Roads, has can create opportunities for operational seeks to bolster its energy security. Once the
been tapped as chief integration officer for efficiencies.” new vessels have been built, COSCO Shipping
Sapphire. BP ENERGY PARTNERS, June 29, 2020 Energy will own 41 LNG carriers. They will
The merger marks a commitment to have a combined capacity of 6.94mn cubic
comprehensively meet and anticipate the metres.

Week 26 03•July•2020 www. NEWSBASE .com P17