Novatek put on the blades of Rosneft?
It should be noted that Novatek significantly increased its profit in the first half of this year, in 2019, thanks to an increase in the production of liquefied natural gas. In terms of capitalization, the Michelson’s enterprise was entrenched in fourth place among domestic companies. And it should be that in the near future Novatek will be able to get ahead of Rosneft in this indicator. Reports about it "Prime".
Thus, Gazprom and PJSC Sberbank shared the first and second places, Rosneft ranked third, Novatek followed, and then Lukoil.
Earlier, Novatek published a report on IFRS (International Financial Reporting Standards) for 6 months of 2019: the company's net profit rose to 450.971 billion rubles: this is 6 times more, for 6 months of the past, 2018.
Such a jump is explained by successfully launched Arctic projects. Novatek is implementing these projects together with its foreign partners. Experts believe that the increase in liquefied gas production and the implementation of LNG projects contribute to the growth of Novatek’s capitalization, which Rosneft will be able to wipe off its high pedestal in the near foreseeable future.
Experts explain the success of Yamal LNG with the support of the Government of the Russian Federation. The project is exempt from paying mineral extraction tax and export duties for 12 years after the shipment of the first batch of products. But this is on condition that the volume of production in this period of time does not exceed 250 billion cubic meters. m. And for the period of tax benefits, Yamal LNG will receive additional income, which can be more than $ 1 trillion. rubles.
The prospects are awful!
Novatek has already announced the completion of the sale of shares in another project - Arctic LNG-2. The partners were subsidiaries of oil and gas companies CNPC and CNOOC (PRC), as well as a consortium of Japan Arctic LNG. Tekhnoblog wrote about this.
It includes the company "Mitsui" and "JOGMEC" (Japan). The participants of the project "Arctic LNG – 2" and the company "Total" (France).
For Arctic LNG-2, Novatek does not ask for tax breaks or state funding. But the Government of the Russian Federation is ready to provide tax breaks for the industrial cluster in Murmansk. It is in the Murmansk zone that they promise to produce equipment for LNG projects. Novatek is approaching the Northern Sea Route by leaps and bounds.
Sechin offered inventory
It is clear that such a thermonuclear activity of Leonid Michelson does not like Mr. Sechin.
And the head of Rosneft, Igor Sechin, took up the epistolary genre: he recently wrote a letter to Vladimir Putin. In this letter, Mr. Sechin described his vision of the development of the Arctic. He drew a plan for this development, not regretting the colors. And immediately began to beg for tax breaks, only some 2.6 trillion. rubles.
The cost of building the shipyard "Star" is estimated at 200 billion rubles. But the commissioning of the first stage was postponed again from 2018. Now for 2020. Sechin is very nervous. And looking for the culprit of their failures and permanent turmoil. And Michelson stubbornly does not want to build gas carriers on the "Star". So, all the “poison arrows” must fly to the Novatek host? And then there is information about the possible joint venture Novatek and Gazprom surfaced.
The Arctic shelf has always been a zone of interest of state-owned companies, because they are legally owned licenses for the field. However, after the introduction of sanctions, it became very difficult to attract investment because of the cordon. Thus, Rosneft and ExxonMobil (USA) had to collapse the shelf joint ventures. And projects with the Eni company (Italy) were also frozen.
And then suddenly Mikhelson with his "samovar".
Together with Gazprom Neft, the Michelson company intends to create a joint venture with sites in the Kara Sea off the coast of Yamal. The licenses for these sites belong to Gazprom, but he is ready to give these "plots" to Gazprom Neft. The company will contribute them to the joint venture and receive a share of 51%, and Mikhelson will give a "cabbage" for the development of the project. And Novatek may become the first company to receive the golden key to the Arctic shelf.
Unlike Sechin, who freely disposes of Rosneft’s money, Mikhelson is the owner of a private company. And he needs to calculate every step. That is why Leonid Mikhelson did not enter the consortium of investors of the seaside shipyard Star. For that Michelson and flew from Putin.
It should be noted that at one time, the head of the Ministry of Industry and Trade Denis Manturov apparently spoke in a conflict with Michelson on the side of Sechin. About this wrote in detail "Ruspress". He supported the non-admission of tankers by Michelson, built in South Korea, to the Northern Sea Route. Mr. Manturov was supported by the President of the United Shipbuilding Corporation Alexey Rakhmanov. How else? Rakhmanov is also a Sechin man.
About this in detail told The Moscow Post in the investigation "Michelson ordered?"
Today, Michelson has 15 tankers built at South Korean shipyards. But new ships Novatek may be needed for further projects in the near future. But it seems that Michelson is able to do without Sechin.
The only question is not to fall into the trap ... Last time it was a basket with sausages, on which Minister Ulyukayev was led. What can the active brain of Mr. Sechin come up with this time in order to neutralize such a successful competitor, which is Leonid Michelson?