Yamal LNG


Western economic sanctions against Russian oil and energy interests are steadily playing out, this time affecting French oil major Total S.A.’s ability to finance part of the $27 billion Yamal liquefied natural gas (LNG) project in the Russian Arctic. Reports broke toward the end of last week that Total will seek as much as $15… Keep reading →

Greenspan Warns Of Danger Of High Natural Gas Prices

A theory emerged to explain the appearance of a massive crater in Russia’s hydrocarbon-rich Yamal Peninsula that has climate-change observers extremely concerned. Analysts have long known that Russia’s energy future lies beneath the frozen ground of Yamal and independent producer Novatek is building a large LNG export project now with the help of French oil… Keep reading →

St. Petersburg International Economic Forum

Bad news for Gazprom: sources say that Russia is going to break the gas giant’s monopoly on LNG exports. “[State-controlled oil giant] Rosneft signed an agreeement with ExxonMobil to develop a LNG project in Russia’s Far East. [Independent gas producer] Novatek clinched a deal with CNPC for a joint development of the Yamal LNG project.” [Natural Gas Europe] Bad news for… Keep reading →

Super Yachts Moored In South Quay As Their Owners Visit London Ahead Of The Olympics

Brazilian billionaire Eike Batista faces regulatory scrutiny for potential illegal activity at petroleum company OGX. From luncheons with Madonna to reportedly selling his $19 million yacht for scrap, Batista’s highly-publicized fall from grace continues. [New York Times] Chinese national oil champion CNPC just bought into Novatek’s Yamal LNG venture, giving French Total and CNPC 20%… Keep reading →