Gulf Oil and Gas accountACCOUNT

Gazprom & Summa to Develop Global Market of LNG

Source: 9/20/2012, Location: Asia

The Memorandum of Understanding was signed by Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Alexander Vinokurov, President of Summa Group.

The document fixes the intentions of the parties to arrange cooperation for LNG utilization as a bunker fuel for marine vessels, including those owned and operated by Summa Group.

In the first instance, Gazprom Group and Summa Group will consider the possibility of cooperation in the North Sea and the Baltic Sea regions. Apart from LNG supplies for Summa Group needs, the parties will consider potential development of the bunkering infrastructure in the North and Baltic Seas, particularly LNG storage facilities.

Later on, the parties will consider potential development of cooperation in the Black Sea and the Mediterranean Sea regions of the Pacific Ocean, where Summa Group operates vessel and owns a well developed port infrastructure.

“The tough mandatory restrictions on emissions for marine vessels, carrying out transportation operations in the Baltic and North Seas, to be imposed after 2015, is the most important factor of switching to alternative fuel. LNG is the only fuel that meets the requirements for limitation of emissions by ship engines without the need to install expensive filters and it is favorably priced compared to low-sulfur petrochemicals. The technologies for vessels, ship engines and storage facilities for the vessels running on LNG are available and tested. The cooperation with Summa Group has good prospects,” said Alexander Medvedev.

“Owing to the united efforts of Summa Group as the infrastructure operator and Gazprom as the biggest global natural gas producer, a really breakthrough project will be implemented. I am sure it will have a long-term positive effect on the environmental friendliness of the marine transport not only in Russia but worldwide and will become a new industry standard,” Alexander Vinokurov stated.

Summa Group is a diversified Russian holding company that consolidates assets in port logistics, engineering, construction, telecommunications and the petroleum sector. Summa Group has representative offices in 40 regions in Russia and beyond the country.

Natural Gas Storage News in Russia >>

Azerbaijan >>  8/19/2019 - Petrofac, in a joint venture (JV) with the State Oil Company of the Republic of Azerbaijan (SOCAR), has secured an Engineering and Technical Services ...
India >>  8/19/2019 - INTECSEA Inc, a wholly owned subsidiary of Worley, has been awarded a project management consultancy (“PMC”) contract by Reliance Industries Limited (...

China >>  8/12/2019 - China based offshore and subsea solutions company, COOEC Offshore, has formed an alliance with international oilfield services company, Expro. The for...
India >>  8/6/2019 - BP and Reliance Industries Limited (RIL) have agreed to form a new joint venture that will include a retail service station network and aviation fuels...

Russia >>  8/2/2019 - Saipem has reached an agreement with Technip France and NIPIgaspererabotka to participate in the Joint Venture for the realization of the Arctic LNG 2...
China >>  7/29/2019 - TechnipFMC celebrated the first steel cut of the manifolds and subsea structures for CNOOC’s Liuhua 16-2 Oilfields Development Project recently. The m...

Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Related Articles: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Russia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.