Total Oil

Lukoil and Total agree on the general conditions of cooperation in the development of hard-to-recover hydrocarbon reserves in Russia.

During the St. Petersburg International Economic Forum - 2014 Vagit Alekperov, the President of JSC "LUKOIL", and Christophe de Margerie, the President and Chairman of the Total concern Board of Directors, signed an agreement on the general terms of companies’ participation in the joint exploration and development of hard-to-recover hydrocarbon reserves in the Khanty-Mansiysk Autonomous Region - Yugra in the Russian Federation.
A joint venture will be created in accordance with the Agreement for the implementation of the project, in which the share will be distributed as follows: LUKOIL - 51%, Total - 49%.

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Novatek gives LNG to Gazprom.

Novatek sold 3 million tons of LNG from its plant under construction "Yamal LNG" to "Gazprom Trading". Now the company has contracted more than 90% of all the future volumes. This will allow "Yamal LNG" start attracting the project financing and possibly catch with access to the premium Asia-Pacific market by 2017. The deal is also beneficial for "Gazprom Trading" because it significantly increases its LNG portfolio and brings additional revenue to the traders' business, "the Kommersant" writes.
"Gazprom"’s marketing structure Gazprom Marketing & Trading (GM & T) has signed basic conditions of 3 million tons of LNG per year purchase with a trading company of "Yamal LNG" - Yamal Trade. The firm contract could be signed in the near future. The agreement is for more than 20 years, the LNG is sold with oil binding on FOB in the Belgian Zeebryugge terminal. In early April, "Yamal LNG" has signed an LNG transshipment agreement with Belgian Fluxys from this LNG terminal from ice class gas tankers to regular LNG tankers.

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Lukoil and Total to invest $120-150 million into joint venture on the development of the Bazhenov formation for two years

Lukoil and the French Total will invest $120-150 million into the joint venture on the development of the Bazhenov formation over the next two years, Lukoil’s head Vagit Alekperov told reporters at the St. Petersburg International Economic Forum during the signing of an agreement on the joint venture creation.
He added that despite the ratio of shares (51% belong to the Russian side and 49 % to the French one), decisions will be taken on parity basis.

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The Ukrainian crisis can postpone the launch of Yamal LNG

The Ukrainian crisis can postpone the launch of Yamal LNG, the chief of Total C. de Margerie claims at the shareholders session. They await the problems with financing of the project and with the access to some materials. However, the consequences will be small and will influence only the terms of execution of the project. The project can be financed by the Chinese banks instead of European.

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The Americans do not want to lend money to "Yamal LNG".

The "Yamal LNG" plant's launch, scheduled for 2017, may be delayed, as some Western banks have refused to finance the project, admitted Christophe de Margerie, the CEO of Total (one of the shareholders of the project). The Chinese banks can take place of the Western creditors, the top manager stressed, RBC daily reports.
According to the Reuters report, the "Yamal LNG" mining and gas liquefaction project on the Yamal may start operation with a slight delay, Christophe de Margerie stated at a meeting of the Total shareholders (owns 20% of "Yamal LNG"). He called the cooling of relations between Russia and Western countries on the situation in Ukraine as the reason.
"In my opinion, the impact of the crisis on the "Yamal LNG" is very little. In the short term we are vulnerable financially or in connection with the difficulty of access to any materials, but apart from the minor delays in the initial stage the project is not in any danger",- the top manager stated. According to him, the U.S. Export-Import Bank of the United States left the project, and other lenders may follow.

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Total to prepare gas-condensate field development project on the Caspian Sea by the end of 2014

The consortium, headed by the French Total, developing the gas condensate deposit of Apsheron in the Azerbaijani sector of the Caspian Sea, will receive development program on approval by the end of the year. R.Abdullaev, president of SOCAR, said.
“Total will finish the development project preparation in 2014 and submit it for consideration at the Board of Management of the consortium,” Reuter writes, citing Abdullaev.
According to Abdullaev, the participants of the project are about to produce up to 5 billion cubic meters of gas a year at Apsheron. Inferred reserves make up 350 billion cubic meters of gas and 45 million tons of condensate.
SOCAR and Total signed a contract for the development of Apsheron on February 27, 2009. Later, an operator of the project Total transferred 20% of participatory share to Gaz De France Suez. To date SOCAR and Total have 40% each, Gaz De France Suez – 20%
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USA and EC Sanctions – Russian oil and gas companies may be limited in technologies

The USA and Europe may impose new sanctions against Russia that will concern the oil and gas industry, which is a key sector for the country. It could be prohibited for foreigners to use new technologies in work with Russian companies in this sector. Sanctions can have an impact on the development of the shelf and difficult reserves. Such projects are at early stages, thus the effect from the restrictions will be suspended and risks of the Russians will be shared by their foreign partners in full measure. But Russian oil and gas companies need new technologies in the long-term perspective, however the companies don’t hurry to develop them.

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TMK will supply premium pipes to Yamal LNG until 2020

TMK has signed the long-term contract with Yamal LNG about the supply of premium pipes. The contract is closed for 2014-2020. This year the common need of Yamal LNG in premium pipes is 48,000 tons. The first batches of the contract were dispatched from Taganrog metal works and Seversky pipe plant in April 2014. This year TMK is going to supply to Yamal 12,000 tons of casing and pumping and compressor pipes with premium joints, adapters and sockets. Dispatches will also be performed from Orsk machine building plant, Vozhsky pipe plant and TMK-Kaztrubprom.

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NOVATEK receives a proposal to sell a share in “Yamal LNG”

OJSC “NOVATEK” (NVTK) has received a proposal from a group of companies from Asia, which are interested in the purchase of a share in “Yamal LNG”. CFO of NOVATEK, M. Gyetvay said  during the telephone conference. He said the question is about the sale of less than 9%. Besides, NOVATEK considers the possibility of participation of Russian companies in the project.
The head and co-owner of NOVATEK, L.Mikhelson said earlier that the company was happy with the current share in “Yamal LNG” (60%), however, the company might reduce it to the level, not lower than the controlling one, if the proposal is worth it.

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Another contract under the "Shah Deniz - 2" is signed.

The operator of the second stage project development of the "Shah Deniz" gas-condensate field in Azerbaijan signed another contract for its implementation at a cost of $ 1.8 billion. The consortium, which includes BOS Shelf LLC, Saipem Contracting Netherlands BV and Star Gulf FZCO, will perform the works.
It includes transport at sea and the on-site installation of the support blocks andthe topsides of two offshore platforms as well as the subsea production systems and structures. The contract also provides for the construction of more than 360 kilometers of subsea pipelines, diving services and modernization of three vessels that will be involved in the maritime operations. These are the pipe layer "Israfil Huseynov", the diving boat "Tawfiq Ismailov" and the crane barge "Azerbaijan".
All work is planned to be finished before the end of 2017.

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