NOVATEK and Sovcomflot are creating a joint venture for sea transportations in the Arctic
16:14 4 сентября 2019
Категории: News in English
Within the Eastern Economic Forum in Vladivostok NOVATEK and Sovcomflot signed the main terms of the agreement on establishment of a joint venture. The document establishes the intention of the sides to create an effective participant on the sea transportations market with potential involvement of new partners in the joint venture. This information was given to the news agency “Sever-Press” in the press-center of NOVATEK.
Organizing of construction and operation of arctic class gas carriers in conformity with the best standards of the marine industry to ensure optimal transportation of products of future NOVATEK projects in the Arctic zone, including the project “Arctic LNG 2”, will be the basic task of the joint venture.
“Effective development of the Northern Sea Route as a reliable year-round route requires consolidation of experience of ice navigation, use of new technological solutions, introduction of the world’s best standards of navigation safety and education of personnel”, said Leonid Mikhelson, the chairman of the board of NOVATEK. “The optimal model of LNG sea transportations from the Russian Arctic region via the Northern Sea Route to major world markets, including countries of the Asia-Pacific region, will support successful implementation of arctic LNG projects of NOVATEK and will allow fulfilling the task set by the President of the Russian Federation on increase in cargo flow along the Northern Sea Route up to 80 million tonnes in 2024”.
The company NOVATEK is the largest independent producer of natural gas in Russia. In 2017 the company entered the international gas market due to the successful launch of the project “Yamal LNG”. Extractive fields and license areas of NOVATEK are located mainly in Yamal-Nenets Autonomous Okrug.