Sovcomflot secures financing and charter for icebreaking LNG carrier

Sovcomflot secures financing and charter for icebreaking LNG carrier

Russian state-owned shipping company Sovcomflot has entered into an agreement with domestic financial institution VEB.RF Group for the lease financing of the first ship in a series of icebreaking LNG carriers to be built to serve the Arctic LNG 2 project.

In the meatime, Sovcomflot signed a long-term charter agreement with gas producer Novetek for the LNG carrier.

The vessel will be constructed at Russia’s Zvezda Shipbuilding and it is designed for year-round operations in the challenging ice conditions of the Kara Sea and the Gulf of Ob and will be able to sail independently through ice over two metres thick.

In 2017, Sovcomflot introduced the world’s first icebreaking LNG carrier, Christophe de Margerie.

In September, Sovcomflot set up a shipping joint venture with Novatek with the potential involvement of other joint venture participants. The joint venture will focus on managing the construction and operations of Arctic ice-class LNG carriers to support transportation demands from Novatek’s future LNG projects in the Russian Arctic region, including the Arctic LNG 2 project.

 

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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