KVAERNER & RUSSIA LNG
After winning a key platform construction contract from Statoil in June, Norway's Kvaerner is reportedly working to enter into the LNG business with floating near-shore liquefaction barges designed for operations in the Arctic. Doing so, Kvaerner could increase its clout in Russia.
On the coast of Russia, near the city of Nakhodka, Kvaerner has been involved in building a concrete-based structure for Exxon Neftegas Ltd. The structure – the largest of its kind in Russia – was placed on the seabed off the coast of the island of Sakhalin this summer.
Norwegian industry is flexing muscles
Recently, Statoil confirmed the scope of its partnership with Rosneft, which includes joint projects offshore and onshore in Russia.
In June, Statoil asked Kvaerner and KBR to design and build a 19,000 tonne top for one of its platforms at the Johan Sverdrup field in the North Sea in a deal worth 6.7 billion crown ($843 million).
"The market has shown a strong interest in this contract, and Kvaerner and KBR have won the contract in tough international competition. So far the Norwegian supplier industry has won the main Johan Sverdrup contracts."
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BLOOMBERG - While Europe as a whole gets more than a third of its gas from Russia, that share is lower in the U.K., which receives the bulk of its fuel from North Sea fields and Norway. Still, Moscow-based Gazprom PJSC was the second-biggest supplier to major industrial consumers in the U.K. last year, according to Britain’s energy regulator Ofgem.
FT - of the six LNG tankers that have made deliveries into the UK so far in 2018 three have carried cargoes originally from Russia, leading to questions about whether Moscow was gaining a foothold in the UK gas market after starting up the Yamal LNG facility in Siberia late last year.
REUTERS - So far this year, two Yamal cargoes unloaded at British terminals for domestic consumption, accounting for about a third of Britain’s 2018 LNG imports after typical supplier Qatar pre-sold the bulk of its winter output to Asia last year.
REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $60.77 a barrel at 0753 GMT, up 6 cents, or 0.1 percent, from their previous settlement. Brent crude futures LCOc1 were at $64.62 per barrel, down just 2 cents from their last close.