Mark Gyetvay, CFO and deputy chairman of the management board at Novatek, visited S&P Global Platts for an interview with senior writer for LNG, Lucie Roux. Novatek is a Russian independent gas producer known for its Yamal LNG terminal, launched in 2017, and now for its Arctic LNG projects.
Platts Insight: the essential perspective on global commodities
 
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June 18, 2019 08:45 UTC 
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Oil tankers ablaze in the Gulf of Oman and the US pointing the finger at Iran should be enough to send the price of the world’s most vital commodity skyrocketing. Instead, oil prices have barely budged. Traders are not buying into the theory that Tehran wants a war, but they are worried about demand. |
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June 17, 2019 10:00 UTC
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The imminent start of production from Norway’s giant Johan Sverdrup field this autumn has obscured some big challenges facing the country’s oil industry. State-controlled Equinor has been trumpeting its progress on the 2.6 billion barrel oil project, due on stream in November, and particularly the reductions in its expected price tag by more than a third to NOK127 billion ($14.5 billion). |
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June 14, 2019 12:52 UTC
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Global oil markets were jolted late in the week by reports of attacks on two oil tankers near the Strait of Hormuz on June 13. Brent crude futures climbed almost 4% immediately after the attacks. ICE Brent eventually settled $1.34 higher at $61.31/b, and was trading higher the morning of June 14. |
 
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June 14, 2019 12:42 UTC
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One week ago, European spot power exchange EPEX Spot was hit with an issue any financial platform would want to avoid. Technical problems led to a series of server crashes, forcing the exchange to launch back-up auction procedures. This resulted in Belgian power prices spiking to over Eur2,000/MWh. During EPEX Spot’s preliminary auction at mid-day London time on June 7, the Belgian day-ahead baseload power contract reached EUR2,233.39/MWh. The auction was then cancelled due to the technical issue. |
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June 13, 2019 06:30 UTC
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The US exported more than 3 million b/d of crude for the second week in a row in the week ended June 7, aided by macroeconomic factors that have made US oil prices more attractive. According to S&P Global Platts Analytics data, more than 3.18 million b/d was exported from the US last week, down slightly from the estimated 3.35 million that was exported during the week ended May 31. The Energy Information Administration reported US crude exports averaging more than 3 million b/d since the week ending May 24. |
 
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June 12, 2019 08:46 UTC
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Almost everywhere you look, auto production and sales are falling and putting pressure on one of the major end-user segments of steel. News within the space of a fortnight that British Steel was insolvent and Ford’s Bridgend plant in the UK would cease production in 2020 was somewhat emblematic of the challenges faced by carmakers and their steel suppliers. |
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June 11, 2019 12:26 UTC
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On the vast, desolate plains of southern Patagonia, Compañía General de Negocios is stepping up drilling and exploration where few companies operate, an emerging trend of widening the search for oil and natural gas in Argentina. “The resource is very large,” Hugo Eurnekian, president of the Argentinian company, said of southern Santa Cruz province. “If this resource was in the United States, there would be hundreds of companies working, but there are only three.” |
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June 10, 2019 10:02 UTC
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OPEC is learning the dangers of dealing with the Kremlin. President Vladimir Putin now has the group’s Middle East kingpin Saudi Arabia over a barrel and can name his own terms to continue their partnership. The oil cartel depends on extending its alliance with Russia to keep restricting supplies if it stands any chance of engineering a quick rebound in prices. |
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June 7, 2019 12:19 UTC
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As world leaders and oil company executives gathered at the St Petersburg Economic Forum from June 6, major figures in the world of oil staked out their position on issues of pricing and supply. Russian President Vladimir Putin put the onus on Saudi Arabia to make the case for continuing a supply cut agreement set to expire at month’s end, saying that Russia could do fine with an oil price in the range of $60-65/b. |