Sovcomflot and Sakhalin Energy Establish JV

In Moscow Sakhalin Energy Investment Company and Sovcomflot Group of Companies signed an agreement for establishing joint operator company

A new company will provide piloting for crude oil and LNG tankers that will put in Prugorodnoe sea port (Sakhalin region). The company will coordinate all port services, which will be in charge of loading from the first Russian LNG plant and crude oil.

Sakhalin crude oil and LNG supplies will open new strategic markets in Asia Pacific region for Russia. The supplies will strengthen Russian positions in the region and provide stability and credibility for global energy dialogue development. The port capacity of transhipments will be at 9.6 mln tons of LNG and 8 mln. tons of crude oil annually when Sakhalin-II will be on forecasted output. In that case 260 port calls annually will be needed at the sea terminal to operate with the mentioned hydrocarbons volume.

Sovcomflot together with Japanese shipping company NYK will participate in LNG transportation from the sea terminal at the Prigorodnoe port. For this purpose two new LNG Moss class of tankers are projected. One of them Grand Elena has been already accepted for operation, the second one will be finished in January of 2008.

Source: Sovcomflot

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July
2008
№7

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