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59-711: The bay has received news coverage because the Sakhalin-II led energy consortium has been accused of significant environmental violations and dumping dredging in the bay. This received attention from environmental groups, namely Sakhalin Environment Watch, and the harm the dredging is doing to the native wildlife. Significant fish and crab kills have occurred, and salmon in the bay have been affected. 46°36′N 142°36′E  /  46.6°N 142.6°E  / 46.6; 142.6 This Sakhalin Oblast location article

118-448: A Countering America's Adversaries Through Sanctions Act report delivered to Congress. On April 26, 2022, the Polish government imposed sanctions against NOVATEK and its Polish subsidiary Novatek Green Energy. In October, external management was introduced at the subsidiary. Leonid Mikhelson promised to appeal this decision in court. In April 2023, the Polish authorities announced the sale of

177-709: A liquefied natural gas plant in Yamalo-Nenets Autonomous Okrug . Total S.A. will also be involved as a 20% shareholder. It was announced in July 2010 that, together with Total S.A., Novatek was developing the Termokarstovoye field in Yamal. In December 2010, Novatek bought a 51% stake in Sibneftegaz from Gazprombank ( Itera owns 49% of the shares). Sibneftegaz holds licences for exploration and production in

236-541: A "negative impact on Sakhalin's people and environment". The WWF asserted that Sakhalin-2 threatens marine life as well as potentially damaging the local communities in the region. Sakhalin Energy responded to the WWF's assertion by saying that the project meets lenders' policies and that environmental and social issues have been met. In September 2006, Sakhalin Energy briefly suspended construction work on its pipelines. Oleg Mitvol ,

295-798: A 50%-plus-one-share stake in the project by signing an agreement with Royal Dutch Shell. Russian President Vladimir Putin attended the signing ceremony in Moscow and indicated that environmental issues had been resolved. The LNG plant was inaugurated on 18 February 2009. The first cargo was loaded to the LNG carrier Grand Aniva at the end of March 2009. After the Russian invasion of Ukraine in February 2022, Shell said that it would exit Sakhalin-2 and other ventures in Russia. On 30 June 2022, Russian President Vladimir Putin signed

354-620: A 51% stake in Yamal LNG from Volga Resources , which controls the giant South-Tambeyskoye field . On 2 July 2010, Novatek purchased Tambeyneftegas, which holds the licence to the Arctic Malo-Yamalskoye field , located on the Yamal Peninsula and holding 161 × 10 ^  m (5.7 × 10 ^  cu ft) of natural gas and 14.4 million tonnes of gas condensate. In June 2010 Novatek and Gazprom announced plans to build

413-459: A decree ordering the transfer of the Sakhalin-2 project to a new domestic operator. Foreign investors will be required to apply to retain their existing shares in the new Russian company within a month. The Russian government will then decide whether to allow foreign shareholders to keep their stake. If they are rejected, the government will sell the foreign shareholder’s stake and keep the proceeds in

472-591: A loan of US$ 5.3 billion from the Japan Bank for International Cooperation and a consortium of international banks. Japan Bank for International Cooperation provided $ 3.7 billion of the funds. In October 2009 Sakhalin Energy secured an additional $ 1.4 billion in project financing, bringing the total Phase 2 project financing up to $ 6.7 billion. The additional debt was provided by a consortium of international commercial banks and insured by Nippon Export and Investment Insurance (NEXI), an Export Credit Agency owned by

531-749: A number of European suppliers for its LNG projects in the Gulf of Ob had traded with it, seemingly in contravention of EU sanctions imposed in the wake of the 2022 Russian invasion of Ukraine . The total value of goods supplied was greater than 500m€, and the investigation found goods from Italy, France, Germany, the Netherlands and Spain. In May 2024, Novatek launched the North Chaselskoye gas and condensate field in West Siberia , with an annual capacity of 3 billion cubic meters, aimed at supporting domestic needs and

590-627: A study was conducted of the Nabil River (with a nameless tributary) and the Nayba River, whose under-river crossings were performed using the horizontal directional drilling (HDD) method. Monitoring was performed during three hydrological seasons: spring floods, summer low water and autumn high water. Sampling was carried out at two cross sections — the upstream baseline (with no impact from the company's infrastructure assets) and downstream monitoring sections. On most investigated river-crossing sites (from

649-609: Is Russia 's second-largest natural gas producer (behind Gazprom ), and the seventh-largest publicly traded company globally by natural gas production volume. The company was originally known as OAO FIK Novafininvest . Novatek is based in the Yamalo-Nenets Autonomous Region in West Siberia, and maintains a head office in Moscow . In the 2020 Forbes Global 2000 , Novatek was ranked as the 316th-largest public company in

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708-891: Is a stub . You can help Misplaced Pages by expanding it . Sakhalin-II The Sakhalin-2 ( Russian : Сахалин-2 ) project is an oil and gas development in Sakhalin Island , Russia . It includes development of the Piltun-Astokhskoye oil field and the Lunskoye natural gas field offshore Sakhalin Island in the Okhotsk Sea , and associated infrastructure onshore. The project is managed and operated by Sakhalin Energy Investment Company Ltd. (Sakhalin Energy) . Sakhalin-2 includes

767-519: Is designed to process natural gas, condensate, and oil from the Lunskoye and the Piltun-Astokhskoye fields prior to pipeline transportation to the oil export terminal and the liquefied natural gas plant in Aniva Bay in the south of Sakhalin Island. The TransSakhalin pipeline system is designed for transportation of hydrocarbons from the Piltun-Astokhskoye and Lunskoye fields in the North of Sakhalin Island to

826-505: Is exported via an 805 metres (2,641 ft) jetty in Aniva Bay. The jetty is fitted with four arms – two loading arms, one dual purpose arm and one vapour return arm. The upper deck is designed for a road bed and electric cables. The lower deck is used for the LNG pipeline, communication lines and a footpath. LNG is pumped from the storage tanks into the parallel loading lines which are brought to

885-808: Is involved in regular monitoring of the western gray whales near the oil and gas developments on the Sakhalin Shelf. In December 2008, Sakhalin Energy won the Environmental Project of the Year award. The company's protection of the western gray whale population was recognised in the Environmental Efficiency of Economics category. The award was presented by Yuri Trutnev, the Russian Federation's Natural Resources Minister. The population assessment in 2008 resulted in an estimate of 130 individuals in

944-472: Is yet to be analyzed. Two of those seismic surveys occurred later in the year when more gray whales were present and temporally overlapped. Critically endangered North Pacific right whales are also present in the region. Sakhalin Energy in cooperation with Sakhalin-1 operator implementsthe integrated monitoring programme near the north-eastern coast of Sakhalin Island. It shows that the distribution of whales in feeding areas did not vary significantly during

1003-528: The Securities and Exchange Commission methodology. Regarding dry sales gas, Novatek operates only in the domestic market, which is characterized by artificially low prices. Novatek's earnings before interest, taxes, depreciation, and amortization and net profit margin in 2011 were 49% and 32%, respectively. The major gas field owned by Novatek is the Yurkharovskoye field . On 27 May 2009, Novatek bought

1062-447: The UK and US governments until 28 June 2024. The two fields contain an estimated 1,200 million barrels (190 × 10 ^  m ) of crude oil and 500 billion cubic meters (18 trillion cubic feet) of natural gas; 9.6 million tonnes of liquefied natural gas per year and about 180,000 barrels per day (29,000 m /d) of oil will be produced. The total project cost until 2014

1121-614: The Air Emissions and Energy Management Standard, Water Use Standard and Waste Management Standard. For more details see Sustainable Development Report One key concern from environmental groups is that the Sakhalin-2 project will harm the western gray whale population. The whales summer feeding grounds are close to the project's offshore platforms in the Sea of Okhotsk. In 2006, the International Union for Conservation of Nature set up

1180-574: The CEO, with around 28% of the shares, Gennady Timchenko 's Volga Group with 23% of shares, Total S.A. with 16%, and Gazprom with 9.4%. On July 16, 2014, Novatek was placed on the Sectoral Sanctions Identification list by the U.S. Department of the Treasury following Russia’s continued attempts to destabilize eastern Ukraine . On January 29, 2018, CEO Leonid Mikhelson was named in

1239-920: The Canadian Beaufort Sea . It had been mothballed in 1990, and was installed in the Astokh area of the Piltun-Astokhskoye field, 16 kilometres (9.9 mi) offshore, in September 1998. The Molikpaq has production capacity of 90,000 barrels per day (14,000 m /d) of oil and 1.7 million cubic meters of associated gas. [2] The Lunskoye field platform was installed in June 2006 at the Lunskoye gas field 15 kilometres (9.3 mi) offshore. It has production capacity over 50 million cubic meters of natural gas, around 50,000 barrels per day (7,900 m /d) of peak liquids (associated water and condensate), and 16,000 barrels per day (2,500 m /d) of oil. The PA-B platform

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1298-572: The IRS, and failing to file tax returns between 2005 and 2015. He faces up to five years for every first two counts and an additional year for every return not filed. The verdict will be delivered on September 21. Gyetvay was sentenced to 86 months incarceration on that date. In April 2022, former Deputy Chairman on the Board of Directors, Sergey Protosenya , reportedly stunned his wife and daughter with an axe and then stabbed them to death before hanging himself, at

1357-478: The Japanese government. In July 2005, a Russian court upheld the appeal of environmentalists who claimed in a petition that Sakhalin Energy's environmental impact assessment , was inadequate. Sakhalin Energy denied the claims and stated them as vague and inaccurate. The environmental and social concerns came to a head at the end of November 2005 when the chief executive of WWF , Robert Napier, said that it would have

1416-598: The LNG jetty. At the jetty head, the pipelines are connected with the jetty's four loading arms. The water depth at the tail of the jetty is 14 metres (46 ft). Contracts for the supply of LNG have been signed with: The projects is owned and operated by Sakhalin Energy. Shareholders of Sakhalin Energy are: Sakhalin Energy looked for finances from the European Bank for Reconstruction and Development . However, on 11 January 2007 EBRD withdrew its consideration of financing for Sakhalin-2, claiming that Gazprom's acquisition of

1475-460: The LNG plant was carried out by OAO Nipigaspererabothka (Nipigas) and the KhimEnergo consortium, together with two Japanese companies Chiyoda Corporation and Toyo Engineering Corporation . The plant has been designed to prevent major loss of containment in the event of an earthquake and to ensure the structural integrity of critical elements such as emergency shut down valves and the control room of

1534-414: The Russian Federation to cover potential fish impacts from the Sakhalin-2 project. This compensation was paid regardless of whether any impact was recorded on the fishing industry or not. Part of these funds was used to set up thriving salmon hatcheries on Sakhalin Island. In 2007, the company started a programme to identify the taimen (a rare protected species of salmon) habitats in the river systems along

1593-572: The USA sanctioned in November 2023 two vessels designed to serve as transhipment terminals. In September 2021, CFO Mark Gyetvay was arrested in the United States. He allegedly hid $ 93M worth of assets in offshore accounts. If convicted, he could face a decades-long prison sentence. He has since been released on a $ 80M bond. On March 28, 2023, a jury found Gyetvay guilty of hiding his foreign assets, defrauding

1652-483: The United Kingdom, but in early March 2008 these applications were withdrawn due to the drawn-out and uncertain decision-making process] by these banks. However, environmental groups contend that the drawn-out process was due to the fact that the company failed to demonstrate compliance with these public banks' environmental policies. In June 2008 Sakhalin Energy signed Russia's largest project finance deal, securing

1711-545: The Val River basin. In the course of the work, 29 stations were completed in the main channel, eight — in the tributaries of the river, and two — in the adjoining lakes. In total, 19 species of fish from nine families were identified in the Val River, watercourses and reservoirs in its basin. The family of salmonids was represented by the largest number of species: all four species of the Pacific salmon (genus Oncorhynchus) reproducing in

1770-555: The Western Gray Whale Advisory Panel (WGWAP). Its members are marine scientists who give independent advice to Sakhalin Energy about managing any potential risks to the western gray whales . The Russian Academy of Sciences has identified an increasing population of western gray whales in the Sea of Okhotsk during a photo identification research programme. However, in February 2009 the WGWAP issued an urgent warning that

1829-778: The Yamal-Nenets region, including for the Beregovoye field , Pyreinoye field , Zapadno-Zapolyarnoye field , and the Khadyryakhinskiy licence area. Sibneftegaz owns rights to develop oil and gas condensate fields with a total resource of 395.53 bcm of natural gas and 8.44 million tonnes of gas condensate. In 2011, Novatek was awarded licences to develop the Geofizichenskoye field , Salmanovskoye (Utrenneye) field , Severo-Obskoye field , and Vostochno-Tambeiskoye field . In addition, Novatek acquired these companies: It

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1888-593: The auction sale was the participation of Novatek structures only. Novatek has been ranked as being among the 13th-best of 92 oil, gas, and mining companies on indigenous rights in the Arctic. In 2021, Novatek was ranked no. 19 in the Arctic Environmental Responsibility Index (AERI) that covers 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle. In 2022,

1947-457: The company's assets. Novatek Green Energy's revenue in 2021 was $ 382 million. Sanctions against Russian banks have caused the cancellation of South Korean contracts to build Arc7 tankers, needed for the Arctic 2 LNG plant, when payment deadlines were missed in May 2022. International sanctions against Arctic development impacted the Arctic 2 LNG plant development and its associated infrastructure when

2006-555: The company's revenue amounted to 805 billion rubles. Subsequent to the 24 February 2022 Russian invasion of Ukraine , on 3 March the London Stock Exchange declared it would suspend trading in GDR securities for Russian firms, and so Novatek was affected. Later on 7 February 2023 Novatek cancelled its (suspended) listing on the LSE. Novatek exploitation of Arctic energy resources include

2065-418: The compliance with legislation on environmental protection, to observe established environmental regulations, and to provide the rational use of natural resources and fulfilment of the plans for minimising the environmental impact. The company exercises industrial environmental control in the following areas: – air emissions; – water use and discharge; – waste management. The company has developed and implements

2124-432: The construction, Sakhalin Energy conducted baseline studies and operational monitoring of all crossing areas of water bodies. For the operations phase, a comprehensive observation programme was developed to monitor the most environmentally significant and hydrographically complex water bodies, which allows the company to monitor any changes, to identify critical areas, to develop and take timely corrective measures. In 2017,

2183-497: The controlling stake of Sakhalin-2 resulted in a to the project making it is unfeasible for the EBRD to pursue the current project. Meanwhile, environmental organizations contend that Sakhalin II had "chronically and substantially violated EBRD's environmental policy". The consortium applied for nearly a billion dollars in financing from the public export credit agencies of the United States and

2242-469: The deputy chief of the Russian Federal Service for Natural Resources, had announced in early August 2006 that, according to his data, Sakhalin Energy failed to take all actions required to eliminate the danger of the mud flow. This was supported by President Vladimir Putin . For more than 20 years of operation Sakhalin Energy exercises industrial environmental control of its assets to ensure

2301-508: The first liquefied natural gas plant in Russia. The development is situated in areas previously little touched by human activity, causing various groups to criticize the development activities and the impact they have on the local environment. The original consortium, was a joint venture between Marathon Oil , McDermott , and Mitsubishi . They won a tender from the Russian Government in 1992. Later that year Royal Dutch Shell joined

2360-449: The gas project was heavily criticized due to environmental issues. Legal proceeding on perceived violation of the Russian environmental regulations were initiated. In the result, The Russian government ordered to terminate the project in September 2006. Under legal and political pressure, the consortium was forced to sell a majority stake to Gazprom. On 21 December, Gazprom took control over

2419-487: The island by dumping one million tons of dredging spoil waste into the sea, and imply a long-time threat of a large oil spill in the Sea of Okhotsk and Sea of Japan . Dredging of Aniva Bay was completed in 2005. In 2005 the salmon harvest was recorded as an all-time high of more than 134,000 tonnes. In 2007 this record was overturned with a salmon catch of 144,181 tonnes. Sakhalin Energy paid compensation of $ 110,000 to

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2478-509: The joint venture. In 1994 the JV incorporated in Bermuda to form Sakhalin Energy Investment Company Ltd. Sakhalin Energy, led by Marathon, negotiated the first PSA directly with representatives of the Russian government. The Russian Party maintained project planning and budget approval. The initial investment decision was to proceed with the oil field development led by Marathon. McDermott sold its share to

2537-638: The monitoring of hydrological and hydrochemical characteristics and condition of bottom sediments was implemented at 24 water bodies crossed by the pipelines, as well as in the area of potential impact from OPF at the Vatung River, and in the area of the Prigorodnoye production complex at the Mereya River and the Goluboy Brook. In the course of work under the special programme, at the request of oversight bodies,

2596-590: The number of western gray whales observed in the primary (near shore) feeding area had decreased and the panel called for a "...moratorium on all industrial activities, both maritime and terrestrial, that have the potential to disturb gray whales in summer and autumn on and near their main feeding areas." In a meeting in April 2009, the WGWAP reiterated its urgent plea for a moratorium. Sakhalin Energy then agreed to suspend its planned summer 2009 seismic testing . The Far Eastern Regional Hydrometeorological Research Institute

2655-581: The onshore processing facility in the Nogliki district and to the LNG plant and the oil export terminal in Aniva Bay. The oil export terminal is located in Aniva Bay to the east of the LNG plant. It includes the export pipeline and the tanker loading unit, where oil-loading to tankers is performed. The Sakhalin-2 LNG plant is the first of its kind in Russia. It is located in Prigorodnoye in Aniva Bay, 13 kilometres (8.1 mi) east of Korsakov . Construction of

2714-604: The other partners in 1997 and Marathon traded its shares to Shell for an interest in other properties (the BP operated Foinaven field , near the Shetland Islands , and an eight block area in the Gulf of Mexico —including the Ursa field ) in 2000. The decision to proceed with the gas project investment was made in 2003. The expected budget increased dramatically by 2005–2006. The pipeline portion of

2773-408: The pipeline to ensure that production activity will not put the existence of this species at risk. At the first stage, the distribution and the number of young taimen in several rivers were studied. In 2011, a new phase was launched under the programme, based on the basin-oriented approach to the study of ichthyofauna, including the Sakhalin taimen. In 2017, ichthyological studies were carried out in

2832-434: The planned Arctic LNG 1, 2 and 3 liquefied natural gas plants which are being developed so that Novatek will become the main player in the Liquefied natural gas industry in Russia with plans to generate LNG capacity of 70 million tons per annum (MTPA) by 2030. The export of the Arctic LNG requires building Arc6 and Arc7 ice breaking LNG carriers. Novatek was in the news in March 2024 when the Moscow Times disclosed that

2891-471: The plant. The LNG plant includes: The LNG plant production capacity is 9.6 million tons of LNG per year. The consortium is examining the possibility of adding another train. A special gas liquefaction process was developed by Shell for use in cold climates such as Sakhalin, based on the use of a double mixed refrigerant. The LNG plant has two LNG double-walled, storage tanks with a capacity of 100,000 cubic metres (3,500,000 cu ft) each. LNG

2950-416: The rivers of Sakhalin, three species of the Arctic salmon of the genus Salvelinus, and the Sakhalin taimen. The family of cyprinids was represented by four species; the remaining families were represented by one species each. According to the Sakhalin Environment Watch, the following environmental changes have occurred: Nevertheless, these concerns were doubted. While preparing for work execution and during

3009-498: The shareholder’s special account. In April 2023, the Russian government approved the sale of Shell's 27.5% stake to Novatek for RUB 94.8 billion. At the same time, Novatek secured the consent of President Putin so that Shell could withdraw these funds from Russia. As marine insurance policies come up for renewal, the Japanese government has asked non-life insurance companies to offer war coverage to LNG shippers in Russian waters. Sakhalin-II has been exempted from sanctions by

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3068-479: The upcoming Murmansk LNG project in northwestern Russia . This move, a response to EU and US sanctions, shifts focus from Arctic operations to ice-free zones in the northwest, aligning with Gazprom's strategy to focus on the domestic market amid geopolitical changes. Novatek is a public company with shares traded on the Moscow stock exchange. The company delisted from the London Stock Exchange in March 2023. The major shareholders of Novatek are Leonid Michelson ,

3127-488: The upstream to the downstream cross sections) no significant horizontal or vertical deformations of river beds were found. The crossings are in satisfactory condition, and no damage to utility lines was found. In 2017 the River Ecosystems Monitoring did not reveal surface water contamination with oil products. All measurement values were insignificant and in line with MAC standards. Novatek Novatek ( Russian : ПАО «НОВАТЭК» , MCX :  NVTK , LSE :  NVTK )

3186-497: The western population. No new reproductive females were recorded in 2010, resulting in a minimum of 26 reproductive females being observed since 1995. Multiple seismic surveys were conducted near Sakhalin in 2010, carried out separately by Rosneft, Sakhalin Energy and Gazprom. The surveys conducted by Sakhalin Energy and Rosneft apparently had corresponding monitoring and mitigation plans. The monitoring data, including acoustic and visual information on whale distribution and behavior,

3245-400: The whole period of the study; the number of individuals in the aggregation is increasing, and its reproduction rate is stable. A study was conducted to research the composition, distribution and variability of the communities of gray whale food organisms. Other concerns are that the project will threaten the livelihood of tens of thousands of fishermen, destroy the key salmon fishing area off

3304-481: The world. In 2006, the company produced roughly thirty billion cubic metres (1.1 trillion cubic feet) of natural gas. By 2010, production had grown to 37.2 × 10 ^  m (1.31 × 10 ^  cu ft), and in 2011 to 52.9 × 10 ^  m (1.87 × 10 ^  cu ft) In 2010, Novatek supplied 13% of the domestic market and accounted for 32% of non-Gazprom production. Total reserves amount to 9.4 × 10 ^   BOE (5.8 × 10   GJ ) using

3363-535: Was announced in 2013 that Novatek would develop the Sabetta port on the Yamal Pensinsula, in a joint project with the Russian government to allow LNG exports by sea. The final investment decision on Novatek's Arctic LNG 2 project on the Gyda Peninsula was made in March 2019. In September 2021, Yamal SPG Resurs of Novatek bought Arkticheskoye and Neytinskoye fields for 10,88 and 2,28 billion dollars respectively for further geological study of subsurface resources, exploitation and production. A very special term of

3422-402: Was installed in July 2007 in the Piltun area of the Piltun-Astokhskoye oil field, 12 kilometres (7.5 mi) offshore. The PA-B has production capacity of 70,000 barrels per day (11,000 m /d) of oil and 2.8 million cubic meters of associated gas. The onshore processing facility is located in the north-east of Sakhalin Island, 7 kilometres (4.3 mi) inland in Nogliki district . It

3481-412: Was originally estimated by Royal Dutch Shell to be between US$ 9 and $ 11 billion. However, the costs turned out to be substantially underestimated and in July 2005 Shell revised the estimate upwards to $ 20 billion. Sakhalin-2 project includes: The Molikpaq drilling and oil production platform (Piltun-Astokhskoye-A platform) is an ice-resistant structure, originally built to explore for oil in

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