S'abonner

Arctic LNG 2 will be built without French financing

Novatek announces that French export credit agencies will not contribute to the financing of the Russian Arctic LNG 2 project.|Novatek announces that French export credit agencies will not contribute to the financing of the Russian Arctic LNG 2 project.

Share:

Novatek has announced that French export credit agencies will not contribute to the financing of the Russian Arctic LNG 2 project, as previously planned, but the project will receive the necessary funds this year.

Novatek receives funding for Arctic LNG 2 project

Earlier this year 2021, shareholders of Russia’s Novatek approved $11 billion in external financing for the Arctic LNG 2 project, which is scheduled to start producing liquefied natural gas (LNG) in 2023.
According to a document consulted by Reuters in 2020, this amount included $700 million from French credit agency Bpifrance.

Technological failures at Yamal LNG

Mr. Mikhelson also said that Russian-made equipment designed for the fourth line of the existing Yamal LNG plant was not working properly due to technological failures.

  • Populaires ​
Thermal Energy launches a CAD 1.4M heat recovery project
Donald Trump significantly increases US tax credits for carbon capture
Czech Republic hit by massive power outage disrupting the economy
France anticipates significant slowdown in emission reductions starting in 2025
Gabon reactivates deep offshore blocks to stem oil decline
LNG Canada launch has no immediate effect on gas prices
The commissioning of LNG Canada, the first major Canadian liquefied natural gas export facility led by Shell, has not yet triggered the anticipated rise in natural gas prices in western Canada, still facing persistent oversupply.
Horizon Petroleum prepares its first gas drilling in Poland for August 2025
Horizon Petroleum Ltd. is advancing towards the production launch of the Lachowice 7 gas well in Poland, having secured necessary permits and completed preliminary works to commence operations as early as next August.
EU imposes secrecy on national strategies for Russian gas phase-out
European Union member states have requested to keep their national strategies for phasing out Russian gas by 2027 confidential, citing security concerns and market disruption risks, according to a document revealed by Reuters.
Three researchers win the 2025 Global Energy Prize for technological advances
Three scientists from China, the United States and Russia are laureates of the 2025 Global Energy Prize, honoured for their work on high-voltage power lines, fuel-cell catalysts and pulsed energy technologies.
Rio Tinto: five strategic priorities to close a 40% valuation discount
Rio Tinto’s new CEO inherits a significant stock market discount and will need to overcome major regulatory, operational, and financial hurdles to swiftly restore the company's appeal to international investors, according to a Wood Mackenzie analysis.
TotalEnergies joins PJM Interconnection, the largest power grid in the United States
TotalEnergies becomes a member of PJM Interconnection, expanding its trading capabilities in North America's largest wholesale electricity market. The decision strengthens the company's presence in the United States.
Turkey plans to start gas supplies to Syria soon, says energy minister
Turkey has connected its gas grid to Syria’s and plans to begin supplying gas for power generation in the coming weeks, according to Turkish Energy Minister Alparslan Bayraktar.
China Reaches Record Energy Demand Without Boosting LNG Purchases
Despite record electricity demand, China sees no significant increase in LNG purchases due to high prices and available alternative supplies.
Westbridge launches Fontus, a strategic 380 MW data centre in Colorado
Westbridge Renewable Energy enters digital infrastructure market with Fontus, a 380 MW data centre campus in Colorado, positioned to meet strong growth in US cloud and artificial intelligence services.
US natural gas production to hit historic high in 2025
US natural gas production and consumption are expected to reach record highs in 2025, before slightly declining the following year, according to the latest forecasts from the US Energy Information Administration.
Borr Drilling raises $102.5mn through issuance of 50 million ordinary shares
Offshore drilling company Borr Drilling Limited announced the completion of an initial tranche issuance of 30 million ordinary shares out of the planned 50 million, raising $61.5mn towards the total goal of $102.5mn.
Naftogaz Launches New Gas Well Despite Declining Production
Naftogaz announces the launch of a natural gas well with a daily output of 383,000 cubic meters, amid a sharp decline in Ukrainian production following several military strikes on its strategic facilities.
EDF Restructures Governance to Accelerate Nuclear and Hydroelectric Projects
EDF announces a new internal organization with key executive appointments to enhance decision-making efficiency and expedite the revival of nuclear and hydroelectric projects central to its industrial strategy.
Sonatrach and ENI Seal $1.35 Billion Contract in Algeria
Sonatrach and ENI have signed a $1.35 billion production-sharing agreement aiming to extract 415 million barrels of hydrocarbons in Algeria's Berkine basin, strengthening energy ties between Algiers and Rome.
Rubis unveils half-year report on liquidity agreement with Exane BNP Paribas
Rubis announces half-year results of its liquidity agreement managed by Exane BNP Paribas, totalling 241,328 shares exchanged for an aggregate amount of €6.5mn in the first half of 2025.
CNOOC appoints Zhang Chuanjiang as new chairman to lead global strategy
Chinese oil giant CNOOC Limited appoints Zhang Chuanjiang as chairman, entrusting this experienced engineer to head the group's board of directors, strategic committee, and sustainability committee from July 8.
PTT Oil posts record profit and accelerates expansion in Asia
PTT Oil and Retail Business announces a 46% increase in net profit for the first quarter of 2025, driven by regional expansion in its energy and non-energy activities, alongside an integrated ESG strategy.
Maple Creek Energy launches strategic RFP for US gas project
Maple Creek Energy is soliciting proposals for its advanced 1,300 MW gas project in MISO Zone 6, targeting long-term contracts and strategic co-location partnerships with accelerated connection to the regional power grid.
VMOS secures USD 2 billion to finance its flagship Vaca Muerta project
VMOS signs a USD 2 billion loan to finance the construction of the Vaca Muerta South pipeline, aiming to boost Argentina's energy production while reducing costly natural gas imports.
Argentina forecasts 180 Mmcd to become regional supplier and major LNG exporter
According to a Wood Mackenzie report, Argentina could achieve daily gas production of 180 million cubic metres per day by 2040, aiming to become a key regional supplier and a significant exporter of liquefied natural gas.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING