In large saucepan, bring 5 cups/1.25 L water, ginger and salt to boil over high heat; add lobster head first and cover. Steam until lobster shell turns red but meat is just short of fully cooked, 6 to 8 minutes. Using tongs, remove lobster; cool under cold running water.

Strain 1 cup/250 mL of the cooking liquid through fine sieve; set aside. Remove meat from lobster, retaining shells; cut meat into large chunks. Discard lungs (long yellowish-white sacs hanging on outside of inner body shell); chop or break apart shells into 2-inch/5 cm pieces (some of the tougher shells can be larger).

In saucepan, melt butter over medium heat; cook shallots until soft, about 3 minutes. Stir in tomato paste, paprika, nutmeg, pepper and cayenne pepper; cook, stirring, for 30 seconds. Add shells; cook, stirring, for 2 minutes. Stir in wine and reserved cooking liquid. Bring to boil; reduce heat and simmer, covered, for 20 minutes. Strain through fine sieve into clean saucepan. Stir in cream; simmer over medium heat until liquid is reduced to half, 10 to 12 minutes. Add lobster meat and return to low simmer; cook for 1 minute.

Meanwhile, beat yolk with sherry; whisk in 1/4 cup/60 mL of the sauce. Stir into saucepan and cook until heated through and thick enough to coat spoon, 1 to 2 minutes; do not boil. Stir in parsley.

Makes 2 generous servings.