Monday, June 20, 2011

Russia embarks on LNG ambition

Sovcomflot - the largest operator of ice-class LNG tankers - signed a contract with Gazprom Global LNG Limited (GGLNG), a subsidiary of Gazprom, for the long-term time charter of two ultra-modern ice-class LNG-carriers, on 17 June 2011 at the St. Petersburg International Economic Forum.

The long-term time charter provides for a minimum of 15 years’ employment for both vessels each of nearly 170,000 cubic meters cargo capacity.

Sovcomflot emerged as a winner from the selection process, organised by GGLNG, which involved the world's leading LNG shipping companies.

Simultaneously, SCF signed a shipbuilding contract with the South Korean shipyard STX Offshore & Shipbuilding (partner of OAO “USC” in Archtech Joint Venture), which will carry out the construction of the ships.

The choice of shipyard was the result of a tender, held in accordance with SCF Group’s existing procedures for the conclusion of shipbuilding contracts.

Delivery of the first vessel is scheduled for the fourth quarter of 2013, with the second vessel to follow in the second quarter of 2014.

USC and STX signed a protocol of intent involving a stage-by-stage preparation and subsequent start of production of LNG-carriers in Russia by 2015.

At the Forum a trilateral strategic partnership agreement was also signed between Sovcomflot, Royal Dutch Shell and United Shipbuilding Corporation (USC). The agreement provides for co-operation between the parties on organising the construction of LNG vessels at Russian shipyards, incorporating the international expertise of Royal Dutch Shell and Sovcomflot.

Published : June 20, 2011

Source: Asiasis


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