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 >>  4/16/2019 - Turan Drilling & Engineering Company LLC (A KCA Deutag and SOCAR AQS Company) has been awarded its first contract, which is with BP Exploration (Caspi...
Russia >>  4/10/2019 - Zvezda Shipbuilding Complex and Sovkomflot PJSC have signed a contract to make a pilot gas carrier vessel for the Arctic LNG 2 project. The contract s...

India >>  4/8/2019 - Axens’ Technologies for HPCL Rajasthan Refinery in HPCL Rajasthan Refinery Limited (HRRL), a joint venture company between HPCL and the Government of ...
China >>  4/5/2019 - Woodside has signed a Heads of Agreement (HOA) with ENN Group for the sale of 1.0 million tonnes of LNG per annum from Woodside’s portfolio for a per...

Russia >>  4/2/2019 - During the 19th International Conference & Exhibition on Liquefied Natural Gas (LNG2019) in Shanghai, Novatek Gas & Power Asia, a trading subsidiary o...
Indonesia >>  3/25/2019 - TechnipFMC has been awarded a large(1) integrated Engineering, Procurement, Construction, Transportation and Installation (iEPCI) contract by Eni for ...

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 |

More News

Related Links

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