Russia’s Novatek and China’s Cosco Shipping to expand Arctic collaboration

Two ice-class LNG carriers at the Yamal facility (Image courtesy of Novatek)

Russia’s Novatek, the operator of the giant Yamal LNG project in the Arctic, and China’s Cosco Shipping Corp. said they plan to expand their cooperation, especially in Arctic shipping.

Leonid Mikhelson, chief executive and co-owner of Novatek met on Tuesday in Shanghai with Xu Lirong, Chairman of Cosco Shipping’s board, where they “reviewed the good cooperation record on the Yamal LNG project,” according to a Novatek statement.

The officials agreed to “expand the mutual cooperation in scope and depth, especially to expand the dialogue on Arctic transportation collaboration,” the brief statement said.

To remind, Novatek started shipping LNG from its giant Yamal plant, Russia’s second export facility, in December 2017.

The three-train Yamal LNG plant, designed to produce about 16.5 million tonnes per year, loads the fuel onboard ice-class tanker specifically designed for the Arctic project. In total, fifteen Arc7 ice-class carriers will serve the Yamal LNG project.

Besides its Yamal LNG project, Novatek is also planning to build its second LNG export project to be located on the Gydan peninsula. The Arctic LNG-2 project is expected to have the same output as Yamal.

Share this article

Follow LNG World News

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 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

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNG Pricing, Trading & Hedging London

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

LNG Pricing, Trading & Hedging Singapore

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >