Journalist PRJournalist PR
    Facebook Twitter Instagram
    Journalist PRJournalist PR
    • Tech
    • Entertainment
    • Celebrity
    • Health
    • Games
    • Politics
    • Trending
    Journalist PRJournalist PR
    Home»News»Novatek Will Use UAE Ties To Secure Arctic LNG Technology

    Novatek Will Use UAE Ties To Secure Arctic LNG Technology

    0
    By Sam Houston on October 17, 2022 News
    Arctic Lng Technology
    Arctic Lng Technology
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Novatek, Russia’s largest independent natural gas producer and a key developer of liquefied natural gas (LNG) in the Arctic, is switching from European partners to a new company in the United Arab Emirates (UAE).

    Industry reports say that Novatek hopes that a new Emirati company called Green Energy Solutions will help it get the technology its former western partners were supposed to give it.

    As a result of western sanctions, several western companies, such as Technip from France, Saipem from Italy, and Baker Hughes from the US, left Novatek’s Arctic project. After Russia invaded Ukraine, economic sanctions were put in place. These have had a significant impact on how Novatek does business.

    Even though it is still possible to bring Russian LNG into the EU, it is now illegal to finance or export key technology that could be used to build new LNG projects, even in the Arctic. So, Novatek is looking for new international partners outside the EU sanctions to get the essential western technology it needs to finish the Arctic LNG 2 project.

    “Green Energy Solutions is based in the UAE, so it is not subject to EU sanctions and can buy and supply equipment for the projects,” said Alexander Kukuev, a partner at a Moscow law firm specializing in international business corporate law.

    Despite Penalties, Arctic Projects Continue

    Because of sanctions from the west, Novatek’s flagship Arctic LNG 2 project, which has three production lines, will be significantly delayed. The company says that the first production line won’t open until at least the end of 2023, which is a year later than planned. What will happen to the other two lines is still unknown.

    Apple Music And Mercedes-Benz Offer High-quality Audio

    Novatek has said in recent months that it is trying to change the liquefaction process where possible. It hired a Turkish floating power plant so that the few specialized turbines it had received before the sanctions could be used to turn gas into liquid instead of making electricity.

    But experts in the field aren’t sure if these efforts will be enough to finish the second or third production line. Novatek’s method for turning natural gas into a liquid, called “Arctic Cascade,” has reportedly failed. This method relies mainly on technology from Russia.

    In 2021, the company stopped trying to use it for its Ob LNG project and said it would instead get the compressors and other equipment it needed from the German company Linde. Novatek wants to get around the sanctions by working with the new Emirati company and getting much-needed technology in a low-key way.

    Green Energy Solutions Project Management Services is a new Emirati company in Abu Dhabi in June. It calls itself an engineering, project management, and construction consulting firm. At the same time, Novatek started hiring people, including a chief accountant and project manager, for an unspecified operation based in the UAE.

    It’s interesting that the company was set up in Abu Dhabi instead of Dubai. This means that it is backed by or sponsored by the local elite. At the very least, this was made possible by local elites, and Al Nahyan, the President of the UAE, may have given his approval, as this is a strategic asset that needs support, says Andreas King, a professor and researcher at London’s King’s College.

    You can also read these news articles:

    • Biden Cracks Down On Chinese Technology Globally
    • Japan’s Logistics Industry Will Get A Boost From Automation Technology!

    Closer Ties

    After participating in several joint ventures and investments, the United Arab Emirates and Russia’s Novatek have grown their relationship to a deeper level. Mubadala, the United Arab Emirates sovereign wealth fund, has allocated some of its assets to the Russian Direct Investment Fund (RDIF).

    Mubadala also purchased a one-and-a-half percent share in Sibur, a Russian petrochemicals business, in December 2021. Sibur was already partially owned by Novatek’s CEO and Chairman of the Board. In addition, Novatek has made LNG deliveries from the Arctic to the UAE; the first of these supplies is scheduled to take place in August 2020.

    “With our first cargo to the United Arab Emirates, we are expanding the territory of our LNG supply,” remarked Lev Feodosyev, the deputy chairman of Novatek’s management board. This statement was made about the company’s first shipment of LNG to the UAE.

    Sheik Mohamed bin Zayed Al Nahyan, the President of the United Arab Emirates, flew to Moscow last week to meet with Vladimir Putin, the President of the Russian Federation. The visit takes place a little less than a week after the United Arab Emirates (UAE) sided with Russia in a decision made by OPEC+ to enact significant cuts in oil output, going against the intentions of the United States.

    Keep following journalistpr.com for more updates. Don’t forget to bookmark our site for the latest updates.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Sam Houston
    • Website

    Hello, I'm Sam Houston, and I'm proud to be a part of the journalistpr.com team as a content writer. My journey into journalism has been quite an exciting ride, and it all began with a background in content creation. My roots as a content writer have equipped me with the essential skills needed to craft engaging narratives and convey information effectively. This background proved invaluable when I decided to make the transition into journalism. The transition allowed me to channel my storytelling abilities into producing news articles that not only inform but also captivate our readers.

    Related Posts

    Bob Marley Cause of Death

    Bob Marley Cause of Death: A Glimpse into His Life and Loss

    September 25, 2023
    Hisashi Ouchi Real Photos

    Hisashi Ouchi Real Photos: A Tragic Tale of Nuclear Radiation and Online Sensationalism

    September 23, 2023
    Maddy Cusack Cause of Death

    Maddy Cusack Cause of Death: A Tribute to Her Remarkable Football Journey

    September 22, 2023

    Leave A Reply Cancel Reply

    Latest Post
    Tyler Hynes Wife

    Tyler Hynes Wife: Insights into his Personal Life and Relationships

    September 25, 2023
    Jimmy Garoppolo Net Worth

    Jimmy Garoppolo Net Worth: A Closer Look at Wealth and Success

    September 25, 2023
    Bob Marley Cause of Death

    Bob Marley Cause of Death: A Glimpse into His Life and Loss

    September 25, 2023
    Peso Pluma

    Peso Pluma Height, Net Worth, Age, and Family Background Revealed

    September 25, 2023
    Is John Travolta Gay

    Is John Travolta Gay? Exploring His S*xual Orientation and Relationship Status

    September 24, 2023
    Is Richard Madden Gay

    Is Richard Madden Gay? Uncovering the Truth About His Personal Life

    September 24, 2023
    Journalistpr.com Logo
    About Us

    Welcome to JournalistPR.com, your trusted source for cutting-edge tech news and more. Our online magazine format offers engaging articles, vivid visuals, and entertaining videos to keep you informed and entertained. Stay ahead with us in the world of science and technology.

    • About Us
    • Contact Us
    • DMCA
    • Privacy Policy
    • Terms of Use
    • Write For Us
    • Fact Check Policy
    • Disclaimer
    • Ethics Policy
    • Correction Policy
    • Our Team
    Follow Us On
    • Facebook
    • Twitter
    © 2023 Journalistpr.com All rights reserved.

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version