Sovcomflot seals deal for Arctic LNG carriers

Russian owner Sovcomflot (SCF) has signed 30-year time charter agreements for three icebreaking LNG carriers with Arctic LNG 2, the operator of the Arctic LNG 2 project.

The vessels have been ordered at South Korea’s DSME, and are scheduled for delivery in 2023.

Igor Tonkovidov, president & CEO of SCF, commented: “Strengthening SCF’s position in LNG shipping segment is amongst the priorities of our current long-term development strategy, which is aimed at growing highly visible long-term, cyclically resistant and higher-margin infrastructure cash flows. The total contract backlog relating to these new time charter agreements, over the 30-year charter period, is estimated at USD 4.2 billion. This will increase SCF’s total contract backlog to approximately USD 24 billion.”

The vessels will fly the Russian flag and have Russian crews, and have been designed using SCF’s experience of safely operating the world’s first icebreaking LNG carrier, Christophe de Margerie, at the Yamal LNG project.

SCF currently has 15 gas carriers in operation, with a further 19 under construction.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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