Novatek, Metals and mining

“NOVATEK” extends contract on the supply of 2.8 billion cubic meters of gas per year with NLMK until 2025

“Novatek” has extended contract on the supply of 2.8 billion cubic meters of gas per year to NLMK until 2025, runs the company’s statement.

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Novatek-Chelyabinsk asks to collect over 500 mln roubles from Mechel’s affiliate

​Previously Novatek-Chelyabinsk repeatedly filed claims to the Court on the collection of the debt for gas from Chelyabinsk metallurgical plant (Mechel’s affiliate).
On May 18th 2016 Novatek-Chelyabinsk filed a claim to the Arbitration Court of the Chelyabinsk region on the collection of over 500 mln roubles from the Chelyabinsk metallurgical plant.
The required amount is 526.7 mln roubles.
Sberbank said that it plans to initiate the bankruptcy of the Chelyabinsk metallurgical plant because of its debt.
Chelyabinsk metallurgical plant is one of the largest domestic enterprises of a full metallurgical cycle on the production of high-quality steel and is the main producer of stainless steel in Russia. It is one of the few enterprises of Russia that has its own index “Chelyabinsk steel”. It is in the structure of Mechel.

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Novatek presses Gazprom from Lipetsk

Next year, Novolipetsk Steel (NLMK) of Vladimir Lisin will change its gas supplier, left Gazprom and signed a contract with Novatek. Perhaps, in conditions of surplus on the market and start of gas exchange trading, NLMK achieved more favorable contract terms than it had with Gazprom. This transaction will allow Novatek to close a part of the gas volumes, which will be free since the next year after the expiration of the contract with Inter RAO UES.
NLMK has signed a five-year contract with Novatek for the supply of gas, the company reported yesterday. The contract amount is 2.8 billion cubic meters per year, it will enter into force from 2016 and will cover "100% of the needs of Russian enterprises of Novolipetsk Steel". Now NLMK has a valid contract with Gazprom. The metallurgical company reported to the Kommersant that under the contract with Gazprom NLMK has the opportunity "to buy 2.6 billion cubic meters of gas per year, but this year NLMK began to actively buy gas at SPIMEX, and "in several months the purchases covered 70% of the needs". NLMK doesn’t disclose the reasons for the transfer to the purchase from Novatek and the contract price, but says that the principle of take-or-pay is not included in the contracts.

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Severstal TPZ-Sheksna supplies pipes for Yamal LNG project

Severstal TPZ Sheksna will supply about 4 thousand tons of pipes for the project of Yamal LNG during the next two months.
Products of Severstal TPZ Sheksna will be used in the manufacture of the main supports of the main onshore pipeline. To fulfill the order, the company mastered the production of pipes of the maximum length - 16 m (usually the length is 12 meters). This required the installation of additional transport chains and knots of pipes shifting mechanism at equipment.

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Total fully turns away from coal extraction

​Total has announced of the termination of coal production. It says this is not the consequence of financial difficulties but a conscientious refusal caused by the company’s intention to participate in the fight with the climate change.
Until recently the operator of coal development Total Coal South Africa has been in the structure of Total. In the summer 2014 Total signed an agreement on the sale of its coal production to one of the South African companies. The Government of the South African Republic approved this agreement and on August 20th 2015 it came into force.
In this connection P. Pouyanne, CEO of Total, said that the sale of the coal business meets the company’s general strategy. Realizing the consequences of coal use in the electric energy generation that emits by twice more carbon dioxide at burning than natural gas, the company has decided to correct the direction of its development.

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Novatek-Chelyabinsk intends to collect 415.5 million rubles from ChMK

Novatek-Chelyabinsk has filed a lawsuit to recover 415.5 million rubles from the Chelyabinsk metallurgical plant (ChMK, a subsidiary of Mechel) to the Arbitration Court of the Chelyabinsk region.

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ChTPZ Group is the only Russian supplier of LDP for “Yamal LNG” project

ChTPZ supplied about 11 000 tons of single-joint welded large-diameter pipes for OJSC “Yamal LNG”, joint project of OJSC “NOVATEK”, Chinese CNPC and French Total on the development of the Yuzhno-Tambeisk gas condensate deposit on the Yamal Peninsula. The pipes will be used for the construction of the first stage of the gas-collecting system – pipelines from wells to gas collecting station.

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Chelyabinsk metallurgical plant pays gas debt in the amount of 3.6 billion rubles

Chelyabinsk metallurgical plant has repaid its debt for gas in the amount of 3.6 billion rubles. The remaining debt currently makes up 2.8 billion rubles.

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Commission of Alexander Khloponin to inspect all licenses

Government Commission on Subsoil Use, chaired by the Deputy Prime Minister Alexander Khloponin, has begun the process of updating all licenses for subsoil use. Over the next year and a half, mining companies should adjust the license to the new format, relevant to the legislation. The idea is supported by the industry, which believes that it will help to solve the chronic problems of mismatch between project documents and the actual situation. But the main beneficiaries could be Mr. Khloponin and his Commission, the influence pf which on business will increase significantly.
Last week, the Deputy Prime Minister Alexander Khloponin held the first meeting of the Government Commission on Subsoil Use. It was formed in April, after a few months, when Mr. Khloponin was co-chaireman of the Government Commission on the FEC (it is headed by the Deputy Prime Minister Arkady Dvorkovich), supervised subsoil use, but then a separated structure was created for this sector.

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Securities of Russian companies mainly rise in price on LSE, Gazpromneft is leader

On Wednesday, securities of Russian companies mainly show a positive trend on the London Stock Exchange (LSE), the leader of the growth is Gazpromneft, the exchange reports.
As at 10.50 MSK, global depository receipts (GDR) of Gazpromneft grew by 3.33% to $13.95.

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