Russian Sovcomflot and Novatek signed an agreement to transport gas from the Yamal LNG, Arctic LNG-2 projects and other Arctic projects of Novatek. The agreement regards the transportation of hydrocarbons such as LNG and gas condensate from Yamal LNG and Arctic LNG-2 project.
Under the agreement hydrocarbons like LNG and gas condensate produced at the Yamal LNG and Arctic LNG-2 project will be transported. To achieve that, a centralized fleet management system for the vessels will be created.
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With this agreement, the two companies want to create a logistics model for the transportation of hydrocarbons in the Arctic zone of Russia and improve the Arctic fleet.
The agreement was signed by the General Director and Chairman of the Board of Sovcomflot Sergey Frank and Chairman of the Board of Novatek Leonid Mikhelson.
During May, Novatek announced that it will create a transportation subsidiary called “Maritime Arctic Transport LLC.” The new company will manage and optimize transportation costs, build up the competencies of Arctic navigation and ensure the centralized management of the Arctic fleet.
The creation of the new company is part of Novatek’s plan to grow the LNG production from its hydrocarbon resource base located on the Yamal and Gydan peninsulas in the Arctic zone of more than 55 million tons per annum by 2030.
