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Shell and Sovcomflot Sign Shipping Agreements

Source: www.gulfoilandgas.com 6/27/2009, Location: Asia

Sovcomflot and Shell International Trading & Shipping Company Limited (Shell) signed a General Cooperation Agreement. The official signing ceremony was held within the framework of the meeting of Russian Federation Prime Minister, Mr Vladimir Putin, with outgoing Chief Executive Royal Dutch Shell plc, Mr Jeroen van der Veer and his successor from 1st July, Mr Peter Voser.

The documents were signed by Mr Sergey Frank, CEO of the Sovcomflot Group of Companies, and Mr Jan Kopernicki, Shell’s Vice President for Shipping.

The General Cooperation Agreement covers cooperation between the two companies in potential liquefied natural gas (LNG) shipping projects in Russia, including on the Arctic offshore. The Agreement provides for broadening of cooperation in future Sakhalin II project development, development of joint shipping solutions for natural gas fields on Yamal Peninsula, further improvement of LNG shipping technologies, including in difficult ice conditions, and development of floating storage and regasification units for gasification in remote regions of Russia.

According to Sergey Frank, Sovcomflot CEO, “The signed agreement allows to combine Shell’s profound experience in the production and the transportation of liquefied natural gas with Sovcomflot’s knowledge and technical potential in delivering cargos by sea in harsh ice conditions of the Arctic and Far-Eastern seas. This long-term international project is aimed at working out highly effective and ecologically safe transportation and logistical solutions for Russia’s future oil and gas projects implemented in the offshore fields of the Arctic”.

Speaking at the event, Mr Kopernicki said, “Shell and Sovcomflot have for some time worked together on LNG seafarer training and through the development of the Sakhalin II project. The signing of these agreements builds on this and allows us to share our respective skills in LNG and Arctic shipping to support future Russian LNG projects.

Alongside General Cooperation Agreement, the companies signed time-charter agreements for Sovcomflot’s Aframax type oil tankers to ship Shell’s crude from North West Europe and the Mediterranean.

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