Novatek, Sovcomflot partner up on LNG shipping

Novatek, Sovcomflot partner up on LNG shipping
Image courtesy of Novatek

Russia’s largest independent natural gas producer Novatek signed a strategic agreement with its compatriot shipper Sovcomflot, to partner up on transporting LNG and condensate from the Arctic LNG projects. 

These projects include Novatek’s Yamal LNG, Arctic LNG 2 and other Arctic projects of the company.

“Our unique partnership with Sovcomflot will optimize our LNG transport model through the Arctic zone by efficiently and effectively using ice-class tankers,” Novatek’s chairman Leonid Mikhelson said.

He added that to implements the company’s strategy of producing over 55 mtpa of LNG by 2030, establishing an efficient Northern Sea Route shipping model is essential.

Mikhelsen believes the move will enable the company to maximize efficiency in managing transportation costs.

In May, Novatek created a transportation unit called Maritime Arctic Transport as it looks to manage and optimize transportation costs, build up the competencies of Arctic navigation and ensure centralized management of the Arctic fleet.

Share this article

Follow LNG World News


<< Apr 2020 >>
30 31 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 1 2 3

Flame 2020

Flame is Europe’s largest and most influential meeting place for the global gas industry.

read more >

4th PNG Petroleum & Energy Summit

The CWC Group, in partnership with Kumul Petroleum Holdings Ltd.

read more >

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

CWC World LNG & Gas Series: 12th Asia Pacific Summit

The 2020 Summit will offer an unrivaled programme covering relevant and significant discussion topics…

read more >