On 28 July, Sovcomflot and Novatek signed a strategic partnership agreement to develop together the logistical support for the Yamal LNG, Arctic LNG-2 and other projects of NOVATEK.
The document was signed by Sergey Frank, President and Chief Executive Officer of Sovcomflot, and Leonid Mikhelson, Chairman & CEO of Novatek.
According to Sovcomflot, this agreement continues the strategic partnership between the two Russian companies, to develop an efficient logistics solution for shipping oil and gas products within Russia Arctic seas, optimising the number of vessels deployed as well as their technical specifications.
To ensure the highest quality of shipping services, whilst maintaining good control of capital expenditure and operating expenses, a centralised fleet management structure is envisaged, operating to unified technical management standards.
“Our unique partnership with Sovcomflot will optimize our LNG transport model through the Arctic zone by efficiently and effectively using ice-class tankers”, L.Mikhelson comnnetned. “To implement our long-term development strategy to produce more than 55 million tons of LNG by 2030, we need to establish an efficient Northern Sea Route shipping model. Combining our efforts with Sovcomflot, one of the global leaders in navigation in harsh ice conditions, will allow us to achieve maximum efficiency in managing our transportation costs”, he added.