30 September 2010
Novatek advances in the Arctic
Having demonstrated the viability of tanker exports to the Pacific around Russia's Arctic coast, Novatek should reap the rewards at the Yamal LNG project, writes NJ Watson
IT WAS not Novatek's second-quarter financial results that pushed its shares to record highs in August, but the company's, and Russia's, first oil tanker to sail the frozen Arctic route to the Pacific Ocean. On 17 August, Russia's largest independent gas producer sent a consignment of gas condensate from the port of Murmansk, in Russia's extreme northwest, to the Asia-Pacific region across the Arctic Ocean's Northern Sea Route (formerly known as the Northeast Passage). On 6 September, the consignment, for China National Offshore Oil Company, arrived at the Chinese port of Ningbo. The 22-day journey was about "half the time required by the traditional shipping route through the Suez Canal",
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
