March 2022 | ISSUE No. 368 | USRCC Business Newsletter
USRCC Partner Event
A landmark event in the energy industry’s calendar, and the world’s largest meeting place for the global gas, LNG, hydrogen and energy value chain, Gastech 2022 will take place from 5-8 September, at Fiera Milano, Italy.  
 
As the largest exhibition of its kind, Gastech Milan will provide space for 1,000 exhibitors to showcase the value that they can bring to the industry. Outdoor exhibition space will be available for the demonstration of lower-carbon technologies and mobility solutions. And, with over 20 international pavilions, the show floor will have a truly international appeal supporting an integrated world-class business environment. 
 
Conference attendees can look forward to hearing from over 900 speakers in sessions covering the latest commercial and technical developments as well as insights from over 400 ministers, CEOs and policymakers. They will lead the debate and convey their unique perspectives on the state of the energy industry and ambitions on how it will evolve over the coming decades.  

More information is available here.
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Member's News
ExxonMobil Appoints Dan Ammann President of Low Carbon Solutions; Joe Blommaert to Retire

Corporate.exxonmobil.com, March 22, 2022: ExxonMobil said today that Dan Ammann, former General Motors president and CEO of Cruise autonomous vehicle company, has been appointed president of ExxonMobil Low Carbon Solutions, effective May 1. Ammann replaces Joe Blommaert, who has elected to retire after 35 years of service. Read more...
Baker Hughes Collaborates with C3 AI, Accenture and Microsoft on Industrial Asset Management Solutions

Bakerhughes.com, March 22, 2022: Energy technology company Baker Hughes (NASDAQ: BKR) is collaborating with C3 AI (NYSE: AI), Accenture (NYSE: ACN) and Microsoft on industrial asset management (IAM) solutions for clients in the energy and industrial sectors. The collaboration will focus on creating and deploying Baker Hughes IAM solutions that use digital technologies to help improve the safety, efficiency, and emissions profile of industrial machines, field equipment, and other physical assets. Read more...
API Welcomes Administration's Agreement with EU to Expand U.S. LNG Exports

Api.org, March 25, 2022: American Petroleum Institute (API) Preisdent and CEO Mike Sommers issued the following statement on today’s announcement by President Biden and European Commission President von der Leyen establishing a joint task force to help increase U.S. LNG exports to Europe and reduce their dependency on Russian natural gas. Read more...
This Week in Review
U.S., EU Reach LNG Supply Deal to Cut Dependence on Russia

Worldoil.com, March 25, 2022: The U.S. and the European Union will push to boost supplies of liquefied natural gas to European countries by the end of 2022 in a bid to begin to displace some Russian gas, a political framework that now leaves companies to sort out the details. Under the agreement, Europe will get at least 15 billion cubic meters of additional LNG supplies by the end of the year, though it’s not clear where it will come from. Read more...
New Risk Assessment Protocols for Foreign Investors in Russia

Russia-briefing.com, March 23, 2022: Many Western law firms have exited the Russian market, some in total, others transferring the practice to their Russian partners. This, coupled with a massive array of sanctions on Russia and reciprocal measures imposed by Russia have left international investors in Russia short of significant advisory about handling their business operations during these unprecedented times. Russian risk assessment has taken on a whole new due diligence and compliance scope. Read more...
U.S. and Allies Discuss Additional Release from Oil Reserves

Oilprice.com, March 24, 2022: The United States is in talks with its allies about a potential additional coordinated release from strategic petroleum reserves in a bid to ease the market tightness following Russia’s invasion of Ukraine, U.S. Energy Secretary Jennifer Granholm said in Europe on Thursday. Read more...
Novatek Freezes All Key Future Projects Except Arctic LNG 2

1prime.biz, March 25, 2022: Russian gas producer Novatek has frozen all its large future projects except the first line of the liquefied natural gas (LNG) plant Arctic LNG 2, business daily Kommersant reported on Friday citing sources. "Arctic LNG 2 is Novatek’s second largest LNG export project after Yamal LNG with capacity of 16.5 million tonnes a year launched in 2017. They were to be followed by Obsky Gas Chemistry Complex and Obsky LNG – now, according to the information available to Kommersant, those are halted," the newspaper reported. Read more...
Halliburton, Schlumberger, Baker Hughes Freeze Russian Ops

Rigzone.com, March 21, 2022: In line with a myriad of oil companies that decided to suspend or completely abandon any operations in Russia following its invasion of Ukraine, three giant U.S. oilfield services players Halliburton, Schlumberger, and Baker Hughes announced that they would be doing the same. Immediately following Russia’s invasion of Ukraine, the USA and the EU imposed heavy sanctions targeting Russia, state-owned oil companies, banks, and oligarchs close to Russia’s President Vladimir Putin. Read more...
Russia’s Fuel and Energy Complex Continues to Operate Stably Despite Sanctions — Novak

Tass.com, March 23, 2022: The Russian fuel and energy complex continues to operate stably as usual, despite the Western sanctions imposed against Russia, Russian Deputy Prime Minister Alexander Novak said on Wednesday. Novak noted that "unprecedented" sanctions by the United States and unfriendly countries have affected Russia’s fuel and energy complex. He recalled that several foreign companies abandoned projects in Russia, paused investments in joint projects. Read more...
Putin Retaliates to Western Sanctions by Demanding Rubles-only Payment for Gas

Intellinews.com, March 24, 2022: Russia’s President Vladimir Putin has announced that “unfriendly” countries will have to pay for gas in Russian rubles and requested that the central bank prepare the necessary conditions for enacting this within seven days, while Gazprom natural gas giant is revising the export contracts accordingly. Previously Putin railed against Western sanctions on the central bank reserves, and Interfax quoted him as saying that “there is no point anymore to supply our commodities to the EU and the US and get payments in dollars, euros [or] some other currencies”. Read more...
Sovcombank Top Managers, Supervisory Board Members Sanctioned by U.S.

Interfax.com, March 24, 2022: More than a dozen names have been added to the Specially Designated Nationals and Blocked Persons List (SDN List) from the management of Russia's Sovcombank, which is itself also on the list, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) said. The list now includes 17 persons from either the top management of Sovcombank or its supervisory board. Read more...
CIS Business News
Visa, Mastercard Restrict Card Operations for 5 Sanctioned Belarusian Banks

Interfax.com, March 25, 2022: International payment systems Visa and Mastercard have introduced restrictions on operations conducted with cards of Sberbank's Belarusian subsidiary and Bank BelVEB, the banks told Interfax. "Payment using Visa and Mastercard cards of non-resident banks has been restricted in Sberbank's terminals system in Belarus since March 19," the bank's press service said. Read more...
US, Azerbaijan Have to Write New Chapter in Energy Story - Former US Ambassador

Azernews.az, March 23, 2022: The US and Azerbaijan have to be writing a new chapter in the energy story as part of efforts on addressing climate change, former US Ambassador to Azerbaijan Robert Cekuta told Trend. According to him, the US and Azerbaijan are working closely to ensure the supply of needed oil and gas from the Caspian Sea to European and other countries, thus improving European and global energy security. Read more...
Kazakhstan Considers Alternative Routes for Oil Transportation

Astanatimes.com, March 24, 2022: The Kazakh Ministry of Energy has been developing alternative routes for shipping oil after the Caspian Pipeline Consortium (CPC) marine terminal accident, reported Minister of Energy Bolat Akchulakov on March 24. Some 53-54 million tons of oil were shipped through the CPC last year. Overall, the total oil export will decline, but this reduction is not critical. Read more...
US-Russia Related News in Russian
◾ Новости недели
Структуре «Газпрома» в Великобритании Грозит «Временная Национализация»

Oilcapital.ru, Март 21, 2022: Великобритания собирается взять под временное управление трейдинговую дочернюю структуру «Газпрома» Gazprom Marketing & Trading Retail Ltd., работающую под брендом Gazprom Energy. На фоне усиливающегося давления на российский бизнес «чиновники внимательно следят за ситуацией» и рассматривают в отношении «дочки» «Газпрома» специальный административный режим, пишет Bloomberg. Читать далее...
Правительство России Может Запретить Экспорт Урана в США

Vedomosti.ru, Март 22, 2022: Правительство изучает возможность прекращения экспорта урана в США в качестве ответной меры на запрет поставок российских энергоресурсов, сообщил вице-премьер РФ Александр Новак в Госдуме 21 марта. Читать далее...
США Отложили Запрет на Импорт Морепродуктов из России до Июня

Kommersant.ru, Март 25, 2022: Минфин США опубликовал ряд генеральных лицензий по санкциям против России. Ведомство отложило введение запрета на ввоз морепродуктов с 25 марта до 23 июня. Сроки запрета на импорт алкоголя и алмазов остались прежними. Кроме того, Минфин разрешил американцам сделки, необходимые для работы дипмиссий третьих стран в России. Американским журналистам и сотрудникам СМИ разрешено проводить денежные сделки в Крыму, ДНР и ЛНР. Читать далее...
"Татнефть" Заявила, Что Ее Проекты Имеют Запас Прочности Независимо от Внешнего Сценария

Tass.ru, Март 25, 2022: Все проекты и бизнесы компании "Татнефть" имеют запас прочности и будут обеспечивать доходность капитала выше стоимости его привлечения независимо от внешнего сценария. Об этом говорится в пресс-релизе компании. "Татнефть" отметила, что портфель проектов компании до 2030 года составляет более 1,7 трлн рублей, а 40% из этой суммы приходится на бизнесы компании помимо блока "разведка и добыча". Читать далее...
Дума Рассмотрит Законопроект о Праве ЦБ Ограничивать Выезд Банкиров из РФ

Interfax.ru, Март 25, 2022: Комитет Госдумы по безопасности вынес положительное заключение на законопроект о возможности ЦБ временно ограничить право на выезд из РФ банкиров, а также руководителей страховых компаний и негосударственных пенсионных фондов (НПФ). Комитет предлагает рассмотреть законопроект на ближайшем пленарном заседании - 5 апреля. Читать далее...
Мишустин Анонсировал Новые Меры Поддержки Российской Экономики

1prime.ru, Март 24, 2022: Нельзя допустить высоких ценовых колебаний на рынке продовольствия, заявил премьер-министр РФ Михаил Мишустин в ходе совещания с правительством. Кабмин обсудил меры поддержки российской экономики в условиях санкционного давления и затронул, в частности, вопрос дополнительной поддержи сельского хозяйства и рыболовства. Читать далее...
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The U.S.-Russia Chamber of Commerce (USRCC) is a 501(c)(6) not for profit corporation with its headquarters in Houston, Texas, and offices in the Midwest and the Northeast. The USRCC was established in 2009 to promote trade and investment between the Russian Federation and the U.S.A.  
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