Russia: Sovcomflot, NOVATEK and VEB to Cooperate in Yamal LNG Project

OAO Novatek to Cooperate at Yamal LNG Project

At the Saint-Petersburg International Economic Forum, Sovcomflot – Russia’s largest shipping company, OAO Novatek – the leading independent natural gas producer, and the state corporation “Bank for Development and Foreign Economic Affairs” (Vnesheconombank) signed a memorandum on cooperation as part of the Yamal LNG project, providing for the construction of two gas-carriers for the Yamal LNG project.

According to the document, Vnesheconombank is to look into the possibility of financing the construction of two ‘pilot’ liquefied natural gas carriers for the Yamal LNG project. Sovcomflot has confirmed its interest in operating the new vessels as a bareboat charterer and technical manager.

The LNG carriers are due to be built at one of the world’s leading shipyards, following a tender process. The agreement provides for the participation of Russian shipbuilders in the project, including the transfer of LNG tanker construction technology to Russia, as well as the organisation of training for Russian specialists at overseas shipyards and subsequent technical support in establishing gas carrier production in Russia.

Sovcomflot specialists will participate in the final approval of optimal technical, commercial and operational solutions.

The design of the 170,000m³ capacity gas carriers has been specially developed for the LNG Yamal project and is unique in its technical characteristics. A high ice class (Arc7) means the new vessels are well suited to the challenging climatic conditions of the Arctic. To ensure uninterrupted operations, the gas carriers will be fitted with a diesel-electric propulsion system that includes three Azipods, each with an output of 15MW. At present, there are no other gas carriers in the world with an equivalent overall propulsion power.

Final delivery of the new vessels is due to take place in 2016. The agreement is a logical continuation of documents signed by Sovcomflot and VEB in 2011 as part of the Saint-Petersburg International Economic Forum. At that time, the companies signed a bilateral cooperation agreement providing for the development of joint proposals on the construction, acquisition and subsequent operation of a fleet for the Yamal LNG project. The implementation of this project has been approved and provided for by a comprehensive Russian government plan to develop liquefied natural gas production on the Yamal Peninsula.

 Sergey Frank, President of OAO Sovcomflot, said:

Providing LNG shipping in the challenging climatic conditions of the Arctic requires the mobilisation of significant resources – including advanced shipbuilding technologies and many years experience and expertise of captains and crews working on modern gas-carriers. At Sovcomflot we are confident that our long-standing experience of Arctic shipping and successfully implemented Arctic projects, for example Varandey and the Northern Sea route transit crossings, will ensure we cope successfully with the task of providing uninterrupted LNG transportation, in the challenging climatic conditions of the Yamal Peninsula.

SCF Group, June 21, 2013

 

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2016 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

7th Annual International Port Security Conference

The SMi Group announces the 7th annual International Port Security Conference. The event will be held in London on the 1st and 2nd of June 2016.

The conference aims to bring together key decision makers in the industry to discuss modern methods of port security and provide effective learning experiences for all delegates through the carefully selected expert speaker line up.

Interacting with delegates from across the globe and hearing from industry leading experts will ensure delegates are up-to-date with high priority information that enables you to best secure your seaports, civilians and means of trade.

Topics to be discussed include terrorism, cyber terrorism, emergency intervention procedures, optimising technology use in security checks and case studies featuring some of the largest ports across the world. Our diverse range of topics will allow delegates to learn best practices for port security and understand further how other ports are resolving core challenges.

More info

read more >

Canada LNG Export Conference and Exhibition 2016

Following the tremendous success of DMG’s 3rd Annual Canada LNG Export Conference & Exhibition, those fundamental to the development of LNG…

read more >

ACI’s 6th Maritime Security Management Asia

The conference will address detailed risk management and planning strategies that can be put in place in accordance with major regulations…

read more >

2nd Annual Global Tax Optimisation for Shipping 2016

In this expert briefing, delegates will gain insights on recent updates, strategies and solutions for strategic as well as day-to-day tax challenges…

read more >