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Rosatom, on the other hand, wants to produce terminal and storage facilities. The venture is
yellow hydrogen, generated from water using considered likely to end up buying at least a por-
electrolysis, but with the process powered with tion of its LNG from the US, assuming it goes
nuclear rather than renewable energy. ahead.
Whether Russia can establish itself as a com- Later in the week, Myanmar’s government
mercial hydrogen exporter in time to capture a gave written approval to plans by three Japanese
part of the European market in unclear. The EU’s trading companies – Marubeni, Sumitomo and
strategy heavily prioritises green hydrogen pro- Mitsui & Co. – to carry out an LNG-to-power
duced from renewables, and sees other types as project. Media agencies reported that the next
only a short-term solution. steps include finalising detailed plant designs
Embracing hydrogen will also be an expen- and negotiating on power pricing with a local
sive undertaking for Russia, which is short of utility, with this process anticipated to take 18-24
revenues following the collapse in commodity months.
prices and the launch of an economic support These steps forward come as Russia continues
package. to carve out a market for its LNG exports in Asia.
Meanwhile, Rosneft has reported the dis- This week, Russia’s LNG exports to China were
covery of a new oilfield at its Vostok Oil project reported to have reached 396,000 tonnes of LNG
in the Russian Arctic, estimated to be 146mn in June, compared with 340,000 tonnes arriving
barrels in size. Rosneft claims that its Vostok Oil in the Asian country from the US.
project could yield as much as 2.3mn bpd of oil Meanwhile, an LNG delivery from Russia
by 2030, but low prices and the initiative’s con- to Japan also made the news. The ice-breaking
siderable cost raise concerns about feasibility. Vladimir Rusanov LNG carrier departed the
Lastly, Gazprom Neft has launched a new Yamal LNG terminal on June 29, and made its
$1.4bn complex at its refinery in Moscow. The maiden call at Ohgishima, Tokyo Bay. It became
Euro+ facility will boost the quality and quantity the first ice-breaking LNG carrier to arrive in
of light fuels such as gasoline and diesel, partly Japan using the Northern Sea Route (NSR).
at the expense of heavier and less valuable fuels. And news of a potential long-term deal – a
rarity in the current market – also emerged in
If you’d like to read more about the key events the past week. Industry sources told Reuters that
shaping the former Soviet Union’s oil and gas sector China’s Sinopec was seeking LNG for delivery
then please click here for NewsBase’s FSU Monitor. over a 10-year period as it sought to take advan-
tage of intense competition among sellers and
GLNG: All eyes on Asia low prices..
Significant developments in the LNG space – in
terms of new projects, trends and milestones – If you’d like to read more about the key events shaping
have largely come from Asia over the past few the global LNG sector then please click here for
days. These include progress on new LNG-to- NewsBase’s GLNG Monitor.
power projects.
Details emerged last week of the LNG-to- Ticking upwards in the Middle East
power project being proposed for Vietnam by An increase in commercial activity in the Middle
Chan May LNG, which is considering investing East this week provided further evidence that the
up to $6bn in a 4-GW power plant, LNG import sector is on its way towards recovery.

Week 30 30•July•2020 www. NEWSBASE .com P9