Page 13 - GLNG Week 12 2022

GLNG NEWS IN BRIEF GLNG

Wärtsilä’s Expertise Centres. worked as an investment banker for Perella Vladimir Putin to switch Russian gas supplies
“We congratulate Brittany Ferries on the Weinberg Partners and Morgan Stanley. He contracts to rubles applies to Gazprom, but
inauguration of the ‘Salamanca’, a ferry that holds a Master of Business Administration not to the independent gas producer Novatek,
is in complete alignment with the maritime from Harvard Business School and a BEng Kremlin spokesman Dmitry Peskov told the
sector’s ambitions towards decarbonised Mechanical Engineering from Imperial press as cited by Tass on March 25.
operations. The service agreement will College. Confusion is reigning amongst analysts
ensure that the vessel’s sustainable propulsion Mr. Boots brings decades of capital and energy traders over why Putin has
solutions will be efficiently maintained so that markets, investor relations, and treasury ordered all gas export deals to be settled in
its carbon footprint is minimised at all times,” experience to CoolCo. He most recently rubles.
Nicolas Rossi Agreement Sales Manager, served as CFO of Pacific Drilling. Novatek is not state-controlled and is
Wärtsilä Marine Power Ms. Choudhry has a 15-year background Russia’s largest investor and exporter of
The ‘Salamanca’ was built at the CMJL in maritime law. She spent the past three years liquefied natural gas (LNG).
(China Merchants Jinling Shipyard (Weihai)) as legal counsel for Eastern Pacific Shipping, Peskov commented that Novatek is a
facilities in China. It features two Wärtsilä one of the world’s largest shipping companies private company and that “there can hardly
46DF dual-fuel main engines and three and the largest shareholder of CoolCo. be a direct order” for its payment options.
Wärtsilä 20DF dual-fuel auxiliary engines The new management team will join “The President did not differentiate in any
with gas valve units. Wärtsilä has also CoolCo during Q2 2022 allowing a smooth way [what kind of gas is meant] – pipeline or
supplied two LNGPac fuel storage, supply management transition and will operate from [LNG]. But the instruction was to Gazprom,”
and control systems, two tunnel thrusters, the company’s London offices. he said.
two tail shafts, the stern tube seals, a Wärtsilä Cyril Ducau, chairman of CoolCo and “This is a directive to Gazprom. This is an
Aquarius Ballast Water Management System, Chief Executive Officer of Eastern Pacific international company where the state is the
and Wärtsilä’s Nacos Platinum integrated Shipping, stated: “On behalf of the Board, I main owner, therefore such a directive was
navigational system. would like to welcome Mr. Tyrrell, Mr. Boots given to Gazprom. The President did not say
WÄRTSILÄ, March 25, 2022 and Ms. Choudhry and express our great anything about Novatek,” he added.
confidence that they will establish CoolCo Russo-Finnish oligarch Gennady
Cool Company announces as a market leader in LNG shipping. After Timchenko, recently blacklisted by the EU,
has left the board of directors of Novatek.
a thorough search, we concluded that these
appointment of dedicated experienced professionals would form the Timchenko, who holds a 23.5% stake in
ideal team to lead CoolCo. I am delighted that
Novatek, was placed under EU sanctions
management team all three are joining the company and bringing on February 28 because of his close ties to
President Putin. The pair have known each
with them their deep industry knowledge,
Following the formation of Cool Company leadership experience, and a track record of other since the early 1990s.
(CoolCo) and successful equity raise in success. With a strong shareholder base, a Other shareholders in Novatek
January 2022, the board of CoolCo is pleased favourable LNG market, and an experienced includedbnaire Leonid Mikhelson, French
to announce the appointment of a new management team, CoolCo is poised to oil major TotalEnergies and state-owned gas
management team: Mr. Richard Tyrrell as deliver exceptional shareholder value in the supplier Gazprom. Novatek has relied on
chief executive officer, Mr. Johannes (John) P. short and long term.” TotalEnergies to support the growth in its
Boots as chief financial officer, and Ms. Sarah COOL COMPANY, March 24, 2022 LNG exports over the years. The company
Choudhry as general counsel. owns direct stakes in Novatek’s Yamal LNG
Mr. Tyrrell joins CoolCo from Höegh Putin’s ruble gas payment project, launched in December 2017, and
LNG where he held several senior positions Arctic LNG-2, due online in 2023.
including chief development officer and chief gambit exempts Novatek
executive officer of Höegh LNG Partners.
Prior to joining Höegh LNG, Richard The recent order of Russia’s President

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