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NOVATEK signs marketing agreement with Yeochun Naphtha Cracker Center
OAO NOVATEK (“NOVATEK” or the “Company”), announced today the conclusion of a commercial agreement with the Yeochun Naphtha Cracker Center (“YNCC”), a South Korean petrochemical company, for supplying up to three hundred thousand tons of light naphtha produced at the Ust-Luga Gas Condensate Transshipment and Fractionation complex (“Complex”) in 2013.

First Deputy Chairman of NOVATEK’s Management Board, Mikhail Popov noted: “The contract with YNCC is another step in the expansion of customer portfolio for the Ust-Luga Complex guaranteeing sustainability of our integrated production chain”.

Executive Vice President of YNCC, Paul Y. Joo commented: “NOVATEK has already worked out reliable logistics of product supplies to South Korea, and we are confident in the security of supply of the required volumes of naphtha as a feedstock for our production”.

The Ust-Luga complex includes facilities for transshipment and fractionation of stable gas condensate. The Complex will process up to six million tons of gas condensate per annum and produce light and heavy naphtha, diesel and jet fuel, as well as heating oil. NOVATEK is currently proceeding with commissioning tests at the first stage, which has a capacity of three million tons per annum. Construction works has also started at the second stage of the Complex. The Complex will allow the Company to enter new markets, expand its customer base and increase sales of higher value added products.

date.png08 Feb 2013 21:28 | comments.png 0 Comments | tags.png c-asia novatek russia trade [ More ]

Statoil and Wintershall sign major strategic gas supply agreement
Statoil and Wintershall have entered into a 10-year gas sales agreement for the delivery of a total of 45 billion cubic meters (bcm) to the German and other North-West European markets.

date.png20 Nov 2012 18:22 | comments.png 0 Comments | tags.png europe germany statoil trade wintershall [ More ]

Oil production estimates for Sudan and South Sudan are cut amid revenue-sharing dispute
Monthly IEA Oil Market Report says China most likely to experience the acute effects of the supply disruption.

date.png15 Feb 2012 12:29 | comments.png 0 Comments | tags.png iea south-sudan sudan trade upstream [ More ]

Tamar Signs Contract with Mashav for approximately $680million
On February 9, 2012, Take-or-Pay agreement for the supply of natural gas over 15 years was signed by the Tamar Partners with Mashav Initiation & Development Ltd. to supply up to a total approximate quantity of 0.2 BCM per year. The quantity supplied is subject to be reduced to approximately 40% in the situation that Mashav does not extend its power plant as is intended. In the agreement the gas price is calculated according to a formula based on electricity production rate as determined time to time by the Public Utility and Electricity Authority and includes a “floor rate”. The supply is expected to start in the second half of 2013. The agreement is subject to a number of closing conditions. For more information please see the immediate reports as published on TASE.

date.png14 Feb 2012 11:26 | comments.png 0 Comments | tags.png delek gas israel trade [ More ]

Iran: New EU sanctions target sources of finance for nuclear programme
Given the EU's serious and deepening concerns over the Iranian nuclear programme, the Council today broadened the EU's restrictive measures against that country. Today's decisions target the sources of finance for the nuclear programme, complementing already existing sanctions.

date.png24 Jan 2012 08:01 | comments.png 0 Comments | tags.png eu iran oil trade [ More ]

RasGas Delivers First LNG Cargo under New Long Sales and Purchase Agreement
RasGas Company Limited (RasGas) has announced the successful delivery of the first Liquefied Natural Gas (LNG) cargo under the new long term LNG Sale and Purchase Agreement (SPA) with CPC Corporation, Taiwan (CPC). The agreement was recently signed and executed on the 6th of December 2011 in Qatar during the World Petroleum Congress. The RasGas long term chartered LNG carrier named "Fuwairit" has delivered and completed the discharge of its LNG cargo successfully and safely ex-ship at CPC Corporation Taiwan Yung-An LNG receiving terminal in Taiwan on Thursday 5th January, 2012.

date.png08 Jan 2012 10:34 | comments.png 0 Comments | tags.png cpc lng qatar ras-gas taiwan trade [ More ]
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