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    Russian Oil and Gas Industry: News #4

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    ALAMO


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    Post  ALAMO Fri Sep 09, 2022 1:50 pm

    owais.usmani wrote:https://www-interfax-ru.translate.goog/business/861041

    Moscow. September 7th. INTERFAX.RU - All the main parameters of the deal with China regarding gas supplies via the Power of Siberia 2 pipeline (volume up to 50 billion cubic meters per year), including the price, have been agreed, Russian President Vladimir Putin said at a plenary meeting of the Eastern Economic Forum.

    The "Power of Siberia 2" mainline is planned to be built from the main for Russia in the 21st century - the Yamal - gas production center (Bovanenkovskoye, Kharasaveyskoye and others). The route of the future gas pipeline may run from the Bovanenkovo ​​group through the Gulf of Ob to Novy Urengoy (the historic Nadym-Pur-Taz region of Gazprom's production) and through the Krasnoyarsk Territory and the Irkutsk Region to Mongolia.

    The most important part of this project are the spin-offs.
    When finished, it will create a redundant infrastructure that will allow pump resources in both directions, from both biggest production regions. Pipes that link the PoS with Yamal are pat of a whole project.
    Sure that at the moment there is no political environment to cheer that, but in Europe things can change quite quickly.

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    Post  owais.usmani Fri Sep 09, 2022 2:42 pm

    https://oilprice.com/Latest-Energy-News/World-News/Russias-Gas-Giant-Will-See-Revenues-Surge-85-This-Year.html

    Russia’s gas giant Gazprom is set to rake in 85% higher revenues this year, to around $100 billion, as natural gas prices surged following the Russian invasion of Ukraine and the significant cut to Russian pipeline gas exports to Europe, an analyst told the Financial Times on Friday.

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    Post  owais.usmani Sat Sep 10, 2022 5:03 pm

    https://neftegaz.ru/news/spg-szhizhennyy-prirodnyy-gaz/750319-na-tor-nakhodka-v-primorskom-krae-poyavitsya-zavod-po-proizvodstvu-spg/

    Small tonnage. An LNG plant will appear at the Nakhodka ASEZ in Primorsky Krai


    Vladivostok, September 10 - IA Neftegaz.RU. A plant for the production of liquefied natural gas ( LNG ) will be built on the Advanced Development Area ( TOR ) Nakhodka in the Primorsky Territory. This was reported by the press service of the KRDV . KRDV and the Far East Investment Company have signed a relevant cooperation agreement within the framework of the EEF-2022. The Far East Investment Company is a project company, a subsidiary of the East Arctic Oil and Gas Corporation. As part of the investment project, small-tonnage LNG production and shipment to consumers by sea is planned.

    processing capacity - 150 million m 3 / year of natural gas (about 130 thousand tons / year of LNG);
    consumers:
    fuel bunkering of ships in the waters of the ports of the Far East,
    onshore LNG consumers in Russia,
    Asia-Pacific countries;
    commissioning - December 2025;
    the volume of capital investments - 7.5 billion rubles;
    it is planned to create 110 jobs.
    For comparison.
    A year ago, at WEF-21, a similar project was announced by another corporation: the Far East Xinxing Corporation, a subsidiary of the Chinese energy industry corporation Zhongyu Xinxing.
    In April 2022 , the Chinese confirmed plans to build:
    LNG - plant with a capacity of 7 million tons / year;
    LNG - Valentina terminal for transshipment of LNG and 1 million tons/year of liquefied hydrocarbon gas ( LHG );
    commissioning - 2027;
    construction site - in the area of ​​the Bay of Pyat Okhotnikov, Shkotovsky district of Primorye;
    the volume of investments is about 490 billion rubles.

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    Post  owais.usmani Mon Sep 12, 2022 12:54 pm

    https://africa.businessinsider.com/news/a-new-gazprom-plant-is-shipping-its-first-liquefied-natural-gas-cargo-to-greece-just/8pbjcvd

    A new Gazprom plant is shipping its first liquefied natural gas cargo to Greece just 6 months after the EU vowed to drastically reduce Russian gas imports


    The first cargo from Russian state giant Gazprom's new LNG plant in Portovaya is heading to Greece. That's even though the EU has pledged to reduce the bloc's reliance on natural gas from Russia.The EU which is dependent on Russia for gas faces an energy crisis as supply has slowed.

    Following Russia's invasion of Ukraine, the European Union pledged to reduce the bloc's reliance on natural gas from Russia. But it appears new deals are still pushing through.

    The first cargo from Russia's Portovaya liquefied natural gas, or LNG, plant, which is near the shut Nord Stream 1 pipeline, will be going to EU nation Greece, Bloomberg reported on Saturday, citing a person with direct knowledge of the situation.

    The identity of the buyer and size of the cargo was not reported, but Greece has only one LNG facilitythat supplies the domestic market, as well as Bulgaria also an EU country and North Macedonia.

    This is at odds with EU plans, rolled out in March, that aim to cut the bloc's dependency on Russian gas by two-thirds by the end of 2022 and end its reliance on Russian supplies of the fuel "well before 2030."

    Europe depends on Russia for 40% of its natural-gas needs, such as cooking in homes and firing up power stations. It's fretting over a winter energy crisis, as Russia has reduced natural-gas flowsto the continent, citing sanctions-related challenges.

    Challenges abound, particularly in the short-term after Russia halted natural-gas supply via the key Nord Stream 1 pipeline. Europe is busy setting up LNG terminals to counter the energy crisis, as these facilities will turn the super-cooled fuel to gas.

    Sweden, another EU nation, is also still importing Russian LNG. Last week, activists from Greenpeace Nordic protested Russian imports by blocking an LNG tanker from unloading Russian fuel in Sweden.

    "The fact that Russian fossil gas is still allowed to flow into Sweden, more than six months after Putin began his invasion of Ukraine, is unacceptable," Karolina Carlsson, a campaign leader at Greenpeace Nordic, said in a statement on September 8.

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    Post  Hole Mon Sep 12, 2022 1:23 pm

    "The fact that Russian fossil gas is still allowed to flow into Sweden, more than six months after Putin began his invasion of Ukraine, is unacceptable," Karolina Carlsson, a campaign leader at Greenpeace Nordic, said in a statement on September 8.
    But she never stopped using her iPhone.  angel
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    Post  ALAMO Mon Sep 12, 2022 1:36 pm

    Where is Greta when a man needs her?!?
    Oh ... sorry, I forgot ... at school, finally.
    Laughing Laughing

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    Post  Kiko Mon Sep 12, 2022 10:22 pm

    Indonesia wants to buy Russian oil. 09.12.2022.

    The country can potentially purchase up to 1 million barrels per day in Russia.

    Indonesian authorities are considering buying oil from Russia due to rising energy prices in the domestic market, President Joko Widodo said on September 12 in an interview with the Financial Times.

    “We are always monitoring all options. If there is a country that gives the best price, of course. <...> The government is obliged to find various sources to meet the energy needs of its people. We want to find a solution,” Widodo replied to the question whether Indonesia intends to buy Russian oil.

    Indonesian Minister of Tourism Sandiaga Uno reported on August 24 in his Instagram account (blocked in the Russian Federation, owned by Meta banned in Russia) that Russia offered to buy its oil at a price 30% lower than on the international market. According to him, the President of Indonesia is considering this proposal.

    Aleksey Drugov, chief researcher at the Center for Southeast Asian Studies at the Institute of Oriental Studies of the Russian Academy of Sciences, notes the difficult situation of the current leadership of Indonesia. The President of this country, according to him, has canceled state subsidies for domestic fuel, which "threatens to a sharp rise in prices in the domestic market."

    “In order for the fuel crisis not to provoke social tension and shake Widodo’s political positions, the country’s president is vitally interested in getting Russian energy resources at profitable low prices,” the political scientist told Vedomosti.

    Widodo is likely to be able to discuss Russian oil purchases with Russian President Vladimir Putin at the G20 summit, which will be held on the island of Bali in Indonesia on November 15-16. But a final decision on Putin's trip to the summit has not yet been made, presidential spokesman Dmitry Peskov said on September 4.

    Widodo's statement came amid the decision of the G7 countries (US, Canada, UK, Japan, Germany, France and Italy) to set a ceiling on Russian oil prices, which was announced on September 2. The G7 plans to create a cartel of Russian oil buyers who will purchase fuel no more than the established “ceiling” of the price.

    Earlier, Bloomberg reported that the G7 are discussing the level of $40-60/bbl. Those who join the cartel, but will buy oil at a higher price, face sanctions, follows from the published preliminary instructions of the US Department of the Treasury. The restriction is planned to be introduced together with the entry into force of EU sanctions on offshore supplies of Russian oil, that is, from December 5, 2022.

    Russian President Vladimir Putin on September 7 at the WEF-2022 in Vladivostok said that Russia would not supply its energy resources, including oil, on conditions imposed on it outside the contract. He called the idea of ​​limiting prices for Russian energy resources in an administrative way "nonsense and nonsense."

    US Treasury Secretary Janet Yellen, in an interview with CNN on September 11, admitted that the imposition of a cap on Russian oil prices could lead to higher fuel prices on world markets. According to her, the G7 proposal is aimed at reducing Russia's oil revenues, but ensuring stable supplies to the world market in order to keep "prices affordable for people."

    The countries of the OPEC+ agreement, which have consistently increased production quotas since April 2020, could help in this. G7 finance ministers asked them to do this. But on September 5, OPEC+ not only did not increase, but even reduced quotas for October by 100,000 barrels per day “against the backdrop of volatility and lack of liquidity” in the oil market.

    Western countries have begun to impose restrictions on oil imports from the Russian Federation in response to a special military operation (SVO) in Ukraine. In March 2022, the US and UK adopted a complete ban on Russian oil supplies. In June, the European Union agreed on an embargo on oil and oil products from the Russian Federation. As a result, Russian oil companies had to hastily redirect supplies of raw materials from Europe to Asia. The main buyers of oil from the Russian Federation in this region are India and China. As a result, Russia's share in India's oil imports increased 6 times to 12%, China increased oil imports from Russia by 8% from March to July compared to 2021.

    But buyers began to ask for discounts, which caused Russian oil to trade at a discount to Brent, reaching $35/bbl. Then the spread began to gradually decrease and by the beginning of September it already reached just over $20. The CBO and the sanctions imposed on Russia provoked a panic in the markets, which led to a sharp increase in oil prices. On March 8, at its peak, a barrel of Brent was trading at $128. Then the price of oil stabilized and fixed at around $100/bbl. On September 7–8, quotes fell to $87/bbl. against the backdrop of a rate hike by the European Central Bank (ECB), but quickly returned to above $90/bbl. On September 12, November Brent futures on the ICE exchange traded at $93.8/bbl.

    Drugov notes that Widodo's statement was made publicly, which indicates the seriousness of Jakarta's intentions. But the United States, in his opinion, can still influence the final decision, even if it runs counter to the interests of the country. In particular, he recalled that Indonesia, under pressure from Washington, has already significantly reduced military-technical cooperation with Moscow.

    According to the UNCTAD/WTO World Trade Center, Indonesia imported 6.5 million tons of oil in the first half of 2022, of which 2.8 million tons (43%) came from Nigeria, 2 million tons (31%) from Saudi Arabia. Arabia, 344,000 tons (5%) - to Angola, and just over 1.3 million tons (21%) - to "other" suppliers.

    Russia did not supply a single ton of oil to Indonesia in the first half of 2022, said Kirill Rodionov, an expert at the Institute for the Development of Fuel and Energy Complex Technologies. Indonesia itself produces about 600,000-700,000 barrels per day with a consumption of 1.5-1.6 million barrels per day, adds Igor Galaktionov , an expert on the stock market at BCS World of Investments.

    “Thus, the maximum volume of imports from Russia can be up to 1 million barrels per day, which will make it possible to redirect most of those sea supplies that still go to the EU countries,” Galaktionov said. However, to do this, Russian companies will have to push out suppliers that have long been entrenched in the Indonesian market, including Saudi Arabia and Nigeria.

    Galaktionov also believes that Jakarta "is unlikely to want to increase its dependence on one supplier," especially in the face of pressure from the G7. Alexander Frolov, deputy director of the National Energy Institute, agrees with this. In his opinion, Russian companies will be able to supply 100,000–200,000 barrels per day of oil to the Indonesian market. But against the backdrop of the energy crisis in the country, Jakarta will most likely prefer to buy oil products from the Russian Federation, mainly fuel oil and diesel fuel, as an alternative to gas and coal, Frolov believes.

    https://www.vedomosti.ru/business/articles/2022/09/12/940457-indoneziya-hochet-rossiiskuyu-neft

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    Post  Kiko Mon Sep 12, 2022 11:06 pm

    Discount on Russian oil fell by half, 09.12.2022.

    The discount on Russian Urals oil has decreased to $20 per barrel compared to British Brent due to higher freight rates, Denis Deryushkin, deputy director of the Russian Energy Ministry, said.

    Deryushkin noted that a couple of months ago, the discount on Russian oil was almost $40 per barrel.TASS .

    According to him, this was caused by the rise in the cost of charter of ships with Russian raw materials, the lack of transaction insurance and the desire of banks to provide letters of credit.

    “Today, due to the fact that freight has fallen a little and there are still alternative consumers, the discount on Urals is no longer $40, but $20 [per barrel]. As before, this is a significant discount, a significant blow to the economy of mining companies, but in general, these are still comfortable realities in which one can exist,” he said.

    Earlier it was reported that if Germany decides to replace Russian Urals oil with other grades for processing at the RSK Raffinerie GmbH refinery in Schwedt, [bthis will lead to an increase in fuel prices in the country[/b].

    https://vz.ru/news/2022/9/12/1177218.html

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    Post  lancelot Tue Sep 13, 2022 12:03 am

    When these people talk about a "discount" they are measuring the price of Urals vs Brent.
    The price of Brent spiked up because of the EU sanctions which supposedly make this oil more interesting. Yet Urals price did not go down.

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    Post  flamming_python Tue Sep 13, 2022 12:26 am

    Hole wrote:
    "The fact that Russian fossil gas is still allowed to flow into Sweden, more than six months after Putin began his invasion of Ukraine, is unacceptable," Karolina Carlsson, a campaign leader at Greenpeace Nordic, said in a statement on September 8.
    But she never stopped using her iPhone.  angel

    Telling that Greenpeace is raging about Putin
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    Post  ALAMO Tue Sep 13, 2022 8:10 am

    Greenpeace already presented its understanding for a need of turning on coal power plants, so you know ... Laughing

    BTW, "peace" in Polish sounds like "pis", and is very close to "pic".
    "pic" is a slang word for a false activity, a facade action made only to pretend something.
    So a common way of calling them is "Greenpic" Laughing

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    Post  owais.usmani Tue Sep 13, 2022 10:18 am

    Russian Oil and Gas Industry: News #4 - Page 8 Firesh48

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    Post  Kiko Tue Sep 13, 2022 1:13 pm

    UEC supplied gas turbine units for Gazprom, 09.13.2022.

    In early September, JSC UEC-Perm Motors (part of the Rostec United Engine Corporation) shipped four sets of gas turbine units for Gazprom. The units will replace imported equipment at the company's facilities.

    Two sets of GTU-25P were shipped to the booster compressor station of the gas field GP-1 of the Bovanenkovskoye oil and gas condensate field. Installations based on the domestic PS-90GP-25 engine are designed for the technical re-equipment of gas compressor units and the replacement of foreign power plants. In total, the engines of five gas compressor units are to be replaced at the facility. Production and delivery of three more GTU-25Ps is planned for 2023.

    Two more sets of GTU-10P were shipped to the Chayandinskoye oil and gas condensate field for a unique production complex - a membrane separation unit for helium concentrate. Currently, six GTU-10Ps are already in operation here as part of gas compressor units. The Chayandinskoye field is the resource base of the Power of Siberia gas pipeline.

    “The technical characteristics of the plant's products, including capacity and reliability, help Gazprom successfully implement projects that are strategically important for the country. Today we pay special attention to the quality of products and after-sales service of equipment for the purpose of effective long-term partnership,” said Alexander Inozemtsev, Deputy General Director of UEC JSC for Management of NPK Perm Motors.

    The gas turbine units GTU-10P with a capacity of 10 MW and GTU-25P with a capacity of 25 MW are based on the gas generator of the PS-90A aircraft engine, which is used on modern domestic passenger aircraft such as Il-96-300, Tu-204, Tu-214. GTU-25P is recognized by experts as the most highly efficient Russian drive for gas pumping infrastructure.

    https://sdelanounas.ru/blogs/148187/

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    Post  caveat emptor Tue Sep 13, 2022 4:16 pm

    lancelot wrote:When these people talk about a "discount" they are measuring the price of Urals vs Brent.
    The price of Brent spiked up because of the EU sanctions which supposedly make this oil more interesting. Yet Urals price did not go down.
    When you talk about discount, don't forget that price of oil has contracted in a major way. 
    Ural is not Russia's only blend. You have ESPO and Sokol, which are also trading at the discount, although sligthly lower. Ural blend by it's geography is bound to trade at the bigger discount, as it was mostly tailored for European market which is largely gone now. 
    To talk about real percent of disount in price and to see if it really shrunk, we need prices to return to the levels they were in the spring first and then compare with real time prices of Russian blends.
    I expect to see some shrinkage in discount but not even close to the level of halving itself.

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    Post  JohninMK Tue Sep 13, 2022 7:41 pm

    Tom Marzec-Manser
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    30m
    Russia’s #Gazprom has begun to export #LNG from its new Portovaya terminal in the Gulf of Finland, @ICISOfficial
    data shows. #natgas #TTF #ONGT

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    Post  JohninMK Tue Sep 13, 2022 7:48 pm

    Not sure I'd describe it as a slump, more "reverts to more normal levels". The next three months will be interesting!.

    Helen Robertson
    @HelenCRobertson
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    3h
    Russia’s revenues from oil and gas sales slump to 14-month low


    Russian Oil and Gas Industry: News #4 - Page 8 FcilGrQXwAAu1n8?format=jpg&name=small


    Russian Oil and Gas Industry: News #4 - Page 8 FciMDk2WYAUiQ8O?format=jpg&name=small

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    Post  ALAMO Tue Sep 13, 2022 8:14 pm

    JohninMK wrote:Not sure I'd describe it as a slump, more "reverts to more normal levels". The next three months will be interesting!.

    In actual circumstances, it is obvious that they will slash production.
    OPEC announced the same a week or so ago.
    Why sell the assets, if the price you have guarantees the cash flow anyway?
    Every oil producer is happy with the situation.
    They are selling less for more, and don't need to decapitalize the production assets, those are all pros of the situation.

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    Post  GarryB Wed Sep 14, 2022 5:55 am

    BTW, "peace" in Polish sounds like "pis", and is very close to "pic".
    "pic" is a slang word for a false activity, a facade action made only to pretend something.
    So a common way of calling them is "Greenpic"

    Sometimes people take logic further than they need to... Greenpiss sounds just fine to me, with no need to explain what it means in Polish either... Smile

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    Post  ALAMO Wed Sep 14, 2022 7:51 am

    By the way, take a look at this graph carefully.
    We talk a 10% production decrease if compared to the few year's averages.
    While the price increase was ... 30% or so at the moment?
    Was much bigger.
    So the slash is still not correlated with the market prices, and should be deeper if they are considering stabilizing cash flow.

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    Post  owais.usmani Thu Sep 15, 2022 12:25 pm

    https://pro-arctic.ru/15/09/2022/news/45944#read

    Gazprom's LNG plant on Sakhalin may be put into operation in 2024


    Gazprom's small-scale LNG plant on Sakhalin could be put into operation in 2024. Its capacity will reach more than 50 thousand tons of liquefied gas per year.

    The design of the LNG plant should be completed in the fourth quarter of 2022, the commissioning of the first stage is scheduled for the fourth quarter of 2023, Vedomosti reports .

    The source of gas for LNG production will be the resources of the Sakhalin-2 project. The gas will be delivered in tank containers through the seaport of Korsakov to the sea terminals of Kurilsk, Severo-Kurilsk, Malokurilsk and Yuzhno-Kurilsk. The bulk of the produced gas will be used to supply the Kuril Islands.

    In the fourth quarter of 2022, the design of the system for receiving, storing and regasifying LNG on the islands of Iturup (Kurilsk) and Kunashir (Yuzhno-Kurilsk) should also be completed. The cost of the project is not specified.

    Earlier, on September 8, within the framework of the Eastern Economic Forum, the government of the Sakhalin Region signed an agreement with Gazprom on the construction of a liquefied natural gas plant on the island.

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    Post  owais.usmani Thu Sep 15, 2022 5:26 pm

    https://www.rosneft.com/press/releases/item/212065/

    Russian Oil and Gas Industry: News #4 - Page 8 Firesh55

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    Russian Oil and Gas Industry: News #4 - Page 8 Empty Re: Russian Oil and Gas Industry: News #4

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