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Explainer: What do Russia’s oil giants own overseas?
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
Letter from Saudi Arabia: US-Saudi energy ties enter a new phase
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
Tax policy will shape Russia’s oil future
The consensus among market observers is that the country’s oil output will fall in the long term. Yet few recognise how Moscow’s shifting tax regime is designed to keep the next barrel commercially viable
The curious case of oil-on-water
The market is facing being drowned in excess crude, but one caveat is that a large chunk is due to buyers reluctant to snap up sanctioned barrels
Lukoil loses its growth prospects
The Russian firm made a significant attempt to expand overseas over the past two decades but is now trying to divest its global operations
Accelerating MENA’s gas transformation
Gas has become a pillar of MENA economies and a catalyst for development strategies, fostering cooperation and creating new paths for economic diversification. Continued progress will require substantial investment and adapted regulations
Explainer: How the EU will wean itself off Russian gas
Questions remain about how the phase-out will be implemented and enforced in practice
Mideast states power up their gas priorities
Saudi Arabia, the UAE and Qatar are ploughing resources into gas—with a growing eye on facilitating domestic use in power and value-added sectors
Arctic LNG comes in from the cold
Beijing now appears prepared to accept discounted Russian LNG, even at the cost of heightened sanctions risk
Natural gas: A vital bridge for the Middle East’s energy future
With responsible development and rigorous regulation, gas can help the region move forward not just as an energy exporter, but as a global leader in the energy transition
Russia Saudi Aramco Saudi Arabia Novatek LNG
Jason Corcoran
1 May 2018
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Can Novatek lure Aramco to Arctic LNG-2?

Closer Russia-Saudi relations could bring new investment

Russian gas producer Novatek wants to entice Saudi Aramco to become a partner in Arctic LNG-2, after successfully launching production at Yamal, its first liquefied natural gas project, late last year. Novatek, Russia's largest independent natural gas producer, signed a memorandum of cooperation with Aramco in February related to the LNG-2 project on the Kara Sea coast, without disclosing any details. Their home countries of Russia and Saudi Arabia have been instrumental in implementing a global pact on cutting oil production by almost 1.8m barrels a day—cooperation that could provide a favourable backdrop for further collaboration. Analysts are speculating that Aramco is negotiating with No

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