LNG

NewMed Energy, the Israel company formally known as Delek Drilling, said it was considering a floating liquefied national gas plant to further develop the Leviathan gas field offshore Israel in the East Mediterranean amid other gas developments in the region.

Tlou Energy, a UK-listed company focused on delivering natural gas for power in Southern Africa, has reached a landmark in Botswana with work starting on grid connection for its coal-seam gas project, which is used as LNG feed gas in Australia where Tlou Energy is also listed.

May 13 (LNGJ) – Novatek, the Russian natural gas company and operator of the Yamal LNG plant in northern Siberia and the Arctic LNG II project hit by sanctions over the Ukraine invasion, has issued a notice through the London Stock Exchange on continuing its Global Depository Receipt (GDR) trading. “The Russian Federation Government Commission on Monitoring Foreign Investment authorized Novatek not to terminate its Global Depository Receipt (GDR) program and to continue GDR circulation outside the Russian Federation,” said the statement.

   Novatek's GDRs are listed in London but are suspended from trading in the UK alongside securities from other Russian companies like Gazprom. The Russian government passed a law in April preventing ordinary shares underlying the GDRs from having voting rights and receiving dividends. Gazprom terminated the circulation of its GDRs after it was told to by the government while also being black-listed in many jurisdictions like the US and Europe.

Jan 26 (LNGJ) - Niels G. Stolt-Nielsen has informed the board of London-based Stolt-Nielsen Ltd, a shareholder in the Avenir LNG joint venture, that he wished to step down from his role as Chief Executive and was now likely to become Chairman. “He will continue as CEO and as a director until the appointment process for a successor has been completed,” said a statement.

   Stolt-Nielsen has served as CEO of Stolt-Nielsen Ltd since November 2000 and has been a director since 1996. “The intention is that once a suitable replacement is found, Mr Niels G. Stolt-Nielsen will assume the role of Chairman of the Board, subject to shareholder approval, replacing Mr Samuel Cooperman,” added Stolt-Nielsen Ltd.

Shareholders in Royal Dutch Shell, one of the world’s largest liquefied natural gas traders as well as the owner of huge and valuable upstream and downstream oil and natural gas assets, have voted to overhaul the corporate structure, including moving the headquarters to the UK as well as dropping the “Royal Dutch” from its name while keeping its windmills business in Holland.

Australian natural gas producer, Po Valley Energy, successfully listed its Italian gas subsidiary, Saffron Energy, on the Alternative Investment Market of the London Stock Exchange in a share offering that was oversubscribed and ended its first day of trading at close to a 50 percent premium.