Novatek CEO expects Sovcomflot to sign contracts for 5 arctic LNG 2 tankers by end of 2019

Vladivostok, Russia, Sep 5 (GCBusiness) Contracts for the construction of five gas carriers for the Arctic LNG 2 project at the Zvezda shipyard in the Russian Far East might be signed by Russian state-owned shipping company Sovcomflot by the end of this year, Novatek CEO and Chairman Leonid Mikhelson said Thursday.
”We are not signing contracts with Zvezda, our transporter Sovcomflot does. To date, not a single contract has been signed between Sovcomflot and Zvezda. At the last government meeting, the deadline for the main [contract] was set for the end of September and the next four for the end of the year,” Mikhelson said on the sidelines of the Eastern Economic Forum.
The Novatek CEO added that a supervisory committee of Russian State Development Corporation VEB.RF had organized the financing for the construction project.
“On August 29, there was a VEB supervisory board [meeting] at which the question of financing was decided. Financing will be carried out through a leasing scheme, that is, the VEB will sign the contracts,” Mikhelson said.
Arctic LNG 2, located offshore the remote Gydan Peninsula in northwestern Siberia, is Novatek’s second large-scale LNG project. It will have three production lines with a total annual capacity of 19.8 million tonnes. Gas will be extracted from the Utrenneye field, which is estimated to hold 69.8 billion cubic feet of natural gas and 105 million tonnes of liquids.
Russia’s Far Eastern city of Vladivostok is hosting the fifth edition of the Eastern Economic Forum from September 4-6. The Rossiya Segodnya International Information Agency is an official media partner of the event.

Via UNI-India

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