Korea Oil and Gas

Modern gas petrochemical complex to be constructed in Turkmenistan

There will be held a great ceremony of the start of modern gas petrochemical complex construction today in Turkmenistan. Its capacity will make up 386 thousand tons of polyethylene and 81 thousand tons of polypropylene a year, ITAR-TASS reports.
The complex of over $3.432 billion in value will be built by Japan TOYO Engineering, South Korean Consortium LG International Corporation and Hyundai Engineering Corp. Ltd. 

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In 2013, Sakhalin Energy reduced oil production by 1.8%

In 2013, Sakhalin Energy, the operator of  Sakhalin 2 project reduced oil production and dispatch from the Prigorodnoye terminal by 1.8% to 5.4 million tons. LNG yield was 10.8 million tons compared to 10.9 million tons the year before. Last year Sakhalin Energy dispatched LNG to Japan, Korea, and Taiwan. The company transferred to Russia as royalty 1.439 billion cubic m of gas compared to 1.105 billion cubic m in 2012.

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Industrial extraction start at Arkutun-Dagi is expected in December 2014

The companies-participants of “Sakhalin-1” are about to start drilling at the deposit Arkutun-Dagi within the framework of the project in August and produce the first oil in December 2014. The press-service of the Sakhalin region states summing up the results of the meeting of the regional governor. A.Khoroshavin with the federal authorities and the management of the operator Exxon Neftegas Ltd.
According to the governor of the region, start-up operations at the topside of the new drilling platform are almost finished. It will be delivered to the Arkutun-Dagi deposit from the republic of Korea.
The governor also stated that the production peak at Arkutun-Dagi will make up 4.5 million tons of oil. There was produced more than 7 million tons of oil and about 10 billion cubic meters of gas at “Sakhalin-1” in 2013.

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Russia and South Korea to agree on gas supply

South Korea and the Russian Federation hold negotiations on the supply of pipeline gas to the republic via China. Minister of Energy A.Novak said.
According to the minister, LNG supply is a priority direction for Russia, as there is bein constructed a number of LNG pants, inclusive of the plant of “Gazprom” in Vladivostok and the one of “Rosneft” in Sakhalin. But South Korea suggested studying the variants of pipeline gas supply.

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Production at Arkutun-Dagi within Sakhalin-1 may be started in December

Rosneft and American ExxonMobil may start drilling at the Arkutun-Dagi field within the Sakhalin-1 project in August and to extract the first oil by December, the press release of the Sakhalin region’s administration reports.
The drilling will be carried out from the platform Berkut. Currently, pre-commissioning activities at the upper construction of the new drilling platform is being completed at a shipyard in Korea; then it will be delivered to the Arkutun-Dagi field.

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The partnership between Russia and Europe in the gas supply sector can’t be cut down easily and quickly

The partnership between Russia and Europe in the gas field sector cannot be cut  easily, but Europe is concerned with diversification of “blue fuel” supplies against the background of the Crimean events. Europe remembers well interruptions with the supplies in 2006 and 2009, the head of Total Gas & Power Philip Soke stated to the Reuters during the gas congress in South Korea.
“Russia and Europe won’t be able to divorce  supplies easily,” – Soke believes. But, according to him, taking into account risk of gas supplies to Europe through the Ukraine, the U.S. authorities may take up problem of export gas supplies more actively.
On the other hand, world gas market doesn’t expect large volumes of American LNG before 2017. The U.S. Ministry of Energy studies over 20 orders for LNG export, but it has given the go-ahead to only six of them since 2011.

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Russia and South Korea to agree on gas supply

South Korea and the Russian Federation hold negotiations on a supply of pipeline gas to the country via China. Minister of Energy A.Novak said about it.
According to the Minister, LNG supply is of higher priority for Russia as there built a number of LNG plants in the country, inclusive of the plant of “Gazprom” in Vladivostok and the one of “Rosneft” in Sakhalin. But South Korea studies pipeline gas supply variants.

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Rosneft to build shipbuilding centre in the Murmansk region

The state-run company is about to build ship-building plants in the settlement Roslyakovo in the Murmansk region. The Vice-premier of Russia, D.Rogozin announced.
They plan the construction of civil and defense shipbuilders. The plan has been agreed with the Ministry of Defense and the Ministry of Industry and Trade. “The settlement Roslyakovo is going to be a center for the Arctic shipbuilding of Rosneft in the near future,” Rogozin said.
It will be the second plant for Rosneft. Under another project (reconstruction of the plant “Zvezda” in the Primorye territory), according to Rogozin, the company agreed a “road map” of the creation of a consortium on the construction of extraction platforms for the development of the Arctic shelf with the relevant ministries. In 2013, the head of Rosneft, I.Sechin offered to take over the construction of the plant “Zvezda” and bring it to private ownership. The private consortium could comprise Rosneft, Gazprombank and a number of foreign partners.

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Rosneft can buy 31.26% of South Korean DSME

The consortium of Rosneft, Gazprombank and Sovkomflot can buy 31.26% of South Korean Daewoo Shipbuilding & Marine Engineering (DSME) in the framework of its privatization, Kommersant reports with the reference to its sources acquainted with the situation.
On Wednesday Rosneft, Gazprombank, Sovkomflot and DSME signed the memorandum of cooperation in the sphere of foundation of a shipbuilding centre in Russia. The sources acquainted with the course of the negotiations reported, the idea of participation of Russian investors in privatization of 31.26% of DSME out of the 50.3% belonging to South Korea was also discussed.

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Rosneft to offer its rules of the game: Sechin to struggle for gas exchange

Rosneft wants not only to become a serious player on the world gas market, but also offers its rules of the game. Yesterday, during the 22nd World Energy Congress in South Korea Sechin stated that “it’s reasonable to create an international exchange of member-countries, where deals with the use of local currency could be registered” (the report text is published on the Rosneft’s site). According to Sechin, the member-countries are states, which will agree to coordinate their energy policy, including legislative and tax regimes, uniting their markets. “We must concentrate efforts on the more efficient issues of infrastructure and contract consolidation of the markets, the swaping of global supplies,” – Sechin stated. According to Sechin, just swaps will help to level the price difference on different markets. He emphasized that at the same time the priority of contracts was to be provided.

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