NOVATEK and Sovcomflot in new LNG carrier charter deal


Russian energy company NOVATEK Gas and Power Asia, subsidiary of PAO NOVATEK (NOVATEK), will contract four new 174,000 cubic metre-capacity liquefied natural gas (LNG) carriers from Sovcomflot through a joint venture with Japanese shipping giant NYK Line.

The carriers will be used to transport LNG produced at NOVATEK’s Arctic LNG projects from floating storage units (FSUs) located near Murmansk and Kamchatka to buyers in Europe and Asia, in addition to being used for regular global trade.

All vessels will feature designs that allow the engine to operate from boil-off gas stored in the cargo tank, as well as the utilisation of advanced insulating materials that suppress boil-off rate, minimising cargo loss and improving efficiency.

Igor Tonkovidov, President & CEO, Sovcomflot, said, “The newly built gas carriers will meet all the current environmental requirements and will be compliant with the most stringent IMO (International Maritime Organisation) rules and will contribute to further development of the Russian LNG export to the global markets.”

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