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Sovcomflot, NOVATEK, COSCO, Silk Road Fund Sign JV Agreement

Logistic News - Published on Tue, 11 Jun 2019

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During the 2019 St. Petersburg International Economic Forum, PJSC NOVATEK, PAO Sovcomflot, China’s COSCO SHIPPING Corporation Limited, and the Silk Road Fund Co Ltd signed a four-party agreement to establish a joint venture Maritime Arctic Transport LLC.

The signing ceremony was attended by: Maxim Akimov, Deputy Prime Minister of Russia; Yury Tsvetkov, Russia’s Deputy Minister of Transport and Head of the Federal Agency for Maritime and River Transport; Oxana Tarasenko, Russia’s Deputy Minister of Economic Development. The agreement was signed by: Sergey Frank, President and CEO of Sovcomflot; Leonid Mikhelson, Chairman of the Management Board of NOVATEK; Xui Lizhong, Chairman of the Board of Directors of COSCO Shipping Corporation; Wang Yanzhi, President of the Silk Road Fund.

The focus of the Maritime Arctic Transport joint venture is to manage an icebreaking tanker fleet of Arctic ice-class vessels, comprising existing and new vessels, engaged in the transportation of LNG for current and planned NOVATEK projects, namely: Yamal LNG; Arctic LNG 2 and others.

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Posted By : Rabi Wangkhem on Tue, 11 Jun 2019
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