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At the XVI St. Petersburg International Economic Forum Russia’s Sovcomflot, the world’s largest operator of ice class vessels, signed an agreement to provide Shell will the use of two modern LNG carriers on the basis of a long-term time charter.
The agreement was concluded following a tender process, which resulted in Shell International Trading and Shipping Company (STASCO) choosing SCF Sovcomflot’s gas-carriers for the transportation of its LNG by sea.
The vessels have been ordered at STX Offshore & Shipbuilding (South Korea) and will be built with the participation of JSC United Shipbuilding Corporation (JSC “USC”). The first tanker is due to be commissioned in late 2014 and the second vessel in early 2015. The involvement in the project of Russian shipbuilders will facilitate the establishment of the domestic production of sophisticated, higher value ships in Russia (e.g. at Novye Admiralteyskie verfi, Kotlin island) and will provide for the future specialised gas carrier needs of Russian oil & gas companies, for work on the continental shelf, in order to develop Arctic and Subarctic offshore fields.
Shell will play an active role in the allocation of gas-carriers to serve Russian production, something which is covered by the agreement previously signed between Shell, SCF and USC during last year’s XV-th St. Petersburg International Forum. Today’s agreement between SCF and Shell also provides for a broadening in the range of domestic components and other equipment to be used in the construction process.
Sovcomflot’s President & CEO Sergey Frank said: “We are truly honoured to have seen our bid win the tender organised by the global energy major, Shell. We have enjoyed our earlier experience of mutual cooperation and this contract builds upon our previous joint engagements. The team from Sovcomflot put enormous effort into winning this contract, using their expertise and knowledge of LNG transportation. We are also pleased that the solution offered by Sovcomflot was not only competitive, but also important for Russia’s shipbuilding industry. The agreement provides the possibility for gas-carriers of a unique and technically advanced design to be built in Russia. This project is also fully in line with SCF’s development strategy. I’m confident that SCF’s many years of experience in the safe and effective operation of gas-carriers will be attractive to all oil & gas companies working on the continental shelf of Russia”.
Vice President of STASCO (Shipping) Grahaeme Henderson, said: “Liquefied Natural Gas (LNG) has a very important role to play in meeting global energy demand. Today, Shell and Sovcomflot are bringing together our collective LNG, shipping and arctic expertise to devise the next generation of LNG tanker. These new ships will help supply LNG to international markets and support Shell’s LNG growth strategy.”
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