Page 18 - FSUOGM Week 27

FSUOGM NEWS IN BRIEF FSUOGM

RUSSIA Territory Oleg Kozhemyako set a memorial Lukoil uses associated gas
laying tablet to the keel section of the future
Sibur petrochemical major tanker during the festive ceremony. for drilling
In total, there is a series of 12 tankers
sells $0.5bn eurobonds at of the Aframax type in the order book Lukoil has successfully implemented oil-
associated gas utilization project to be used
of the Zvezda complex. At the moment,
low rate five of them are under construction at the as a source of energy for drilling at the
shipyard. The flagman ship of the series was
Sredne-Nazymskoye field in KhMAO-Yugra.
Russian petrochemical major Sibur raised launched in May 2020 and is undergoing This technology resulted in reducing power
$500bn following its offering of 5-year mooring tests. consumption costs for drilling by 50% against
eurobonds on the Irish Stock Exchange. The With the dimensions of 250 m length, that of diesel generators used before.
coupon rate is 2.95%, which is a record low for 44 m width, and 114 thousand tonnes As part of the project by Lukoil-affiliated
Russian corporate issuers, the company said in deadweight, Aframax tankers will be the company Ritek, a power centre of seven gas-
a press release. first vessels of this type built in Russia. fired energy generators, two transformer
The funds raised will be used to optimise Equipped with the most advanced Class A substations, and an indoor switchgear were
the loan portfolio and for general corporate automation system, green Aframax tankers constructed at the Sredne-Nazymskoye
purposes, Sibur commented. are designed to transport crude oil in an field. A super condenser unit accounts for
As reported by bne IntelliNews, Fitch unlimited navigation area thanks to the uninterrupted power supply stabilizing
Ratings and Moody's Investors Service propulsion machinery that can run on circuit voltage during sharp fluctuations.
have most recently approved the long-term liquefied natural gas in accordance with This high-tech solution of associated
issuer default ratings of Sibur at BBB- and high environmental standards. gas utilization, plenty of which is recovered
Baa3 respectively, with a Stable outlook. Thanks to the advanced equipment, from the wells at the Sredne-Nazymskoye
The company has closed a shareholder deal Zvezda is capable of producing state-of- field, complies with Lukoil's objectives
with Chinese Sinopec for a major Amur the-art large-capacity vessels. The most on reducing gas emissions and with the
chemicals complex. advanced shipyard in Russia uses high- environmental legislation. Benefits of this
"Sibur is one of the largest petrochemical precision methods of marking, welding and innovation will be used at oilfields distant
companies in the CIS, with a leading cutting metal, including the laser one, as from power and logistic centers, as well as
position in most of the company’s segments well as 3D-modelling. at fields being developed at the same time as
in Russia. The company has quite a well- The Zvezda Shipbuilding Complex is drilling..
diversified product portfolio with 40% constructed by the Rosneft-led Consortium
of revenue from the midstream segment upon the instruction of President of Russia
(natural gas and LPG), while the olefins/ Vladimir Putin. The Shipyard’s order
polyolefins division contributes 20% of portfolio amounts to 39 vessels (59 vessels EASTERN EUROPE
revenue; plastics/elastomers 29%," BCS including options) at the moment. The
Global Markets reminded ahead of the bond Shipyard’s pilot throughput is provided Naftogaz pays an all-time
placement. for by Rosneft that placed an order for 28
Outstanding SIBUR 24 (YTM 2.58%) has vessels. Zvezda’s product line will include large $1.8bn dividend to the
a duration almost 1Y shorter than the new vessels of up to 350 tonnes displacement,
issue, BCS GM notes. The analysts expected components of marine platforms, ice- state budget
a 20bp premium for longer duration, class vessels, commercial vessels for cargo
translating to a yield of 2.75-2.85%, which transportation, specialty vessels, and Ukraine’s state-owned gas company Naftogaz
also looks fair against the longer issue of other types of marine equipment of any transferred an all-time record large dividend
Gazprom natural gas giant GAZPRU 26 complexity, characteristics and purposes, payment of UAH48.125bn ($1.8bn) to
(YTM 2.93%). including those that had not previously Ukraine’s state budget, the company said in a
The key shareholder is Leonid Mikhelson been produced in Russia due to the lack press release on July 1.
(48.5%) – also one of the key beneficiaries of required launching and hydraulic The dividend represents 95% of the
of Novatek, Russia’s largest independent gas structures. company's profits and is 2.4 times higher
producer. Gennady Timchenko controls that the Naftogaz dividend paid for 2018.
17.0% of Sibur’s equity; Sinopec and The ROSNEFT, July 3 2020 Naftogaz paid UAH8.5bn of the sum in
Silk Road Fund each have 10%. advance at the end of 2019 at the request
Fire at Rosneft’s Syzran put of the government, which enabled urgent
payments from the state budget that were at
Work on Nazarbayev out, no casualties risk due to insufficient revenues.
The government policy is for dividend
Aframax tanker starts in A fire that broke out at a diesel hydrotreatment payments to be equal to 95% of Naftogaz
unit at Rosneft’s Syzran oil refinery in the
net profits generated in 2019.
Zvezda shipyard Samara region has been put out, local biggest contributor to the state budget for
“Naftogaz Group has been Ukraine’s
emergency authorities have said.
The laying of an Aframax tanker has taken The fire occurred at just before 17:00 the past several years. The current decrease
place at the Zvezda Shipbuilding Complex. The local time and was spread to a 40 square in gas prices makes generating revenues
vessel is named after Nursultan Nazarbayev, the metre area, but was extinguished in half an for the state budget an even more difficult
first President of the Republic of Kazakhstan. hour. task. Meanwhile, Ukrainian consumers are
Managing Director of Zvezda Sergey benefiting from lower gas and heating bills.
Tseluiko and Governor of Primorsky The reforms we are currently implementing

P18 www. NEWSBASE .com Week 27 08•July•2020