A Review of the Nigerian Energy Industry

Russia to name LNG carrier after de Margerie

03 October 2014, News Wires – Novatek has proposed naming a liquefied natural gas carrier newbuild set to serve the giant Yamal LNG terminal in Russia after the late Total chief executive Christophe de Margerie, according to a report.

Russian President Vladimir Putin has also given his approval to the idea proposed by Novatek chairman, Leonid Mikhelson, according to a report from Russian news agency Itar-TASS.

Christophe de Margerie of Total.jpg 1
Christophe de Margerie, late CEO of Total

Total is a 20% stakeholder in the Yamal LNG project, which is a planned three-train development set for start-up in late 2016.

De Margerie was killed in a plane crash last month at Moscow’s Vnukovo airport. All three crew members of the plane, in which de Margerie was the sole passenger, were also killed.

“I would like to say that we have lost a perfect partner Christophe de Margerie,” Mikhelson said.

“We decided to make this initiative, asked his family to name a tanker which will deliver the produce after him.

“We have started this project together with him. I believe that this decision would be correct.He was a person enjoying high respect in the world,” he continued.

Putin said: “He was a dignified man and this is certainly absolutely suitable to immortalise his memory. He was a good and reliable partner.”

Novatek holds a 60% operating stake in Yamal LNG, with China National Petroleum Corporation on 20%. Upstream reported last month thatA Japanese consortium led by Mitsubishi and Mitsui are now favourites to acquire a stake of about 10% in the estimated $20 billion-plus project after India’s state-owned Oil & Natural Gas Corporation (ONGC) decided to back out.

A consortium of ONGC and compatriots Indian Oil Corporation and Petronet LNG had been looking for a 9% to 10% stake in the grassroots LNG project, but ONGC is no longer interested after carrying out a risk assessment, according to press reports.

Yamal LNG is being developed as a phased three-train 15 million tonnes per annum project.


– Upstream

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