icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Daewoo to build two LNG tankers for Russian energy giant Novatek

Daewoo to build two LNG tankers for Russian energy giant Novatek
South Korea’s shipyard Daewoo Shipbuilding & Marine Engineering (DSME) has received an order from Russian gas producer Novatek for the construction of two LNG tankers to operate in Kamchatka and Murmansk.

According to DSME, the two carriers with a capacity of 380,000 cubic meters of LNG (liquefied natural gas) each are expected to be built before the end of 2022. The value of the order is 901.3 billion won ($748 million), the shipbuilder said, adding that an option for two more vessels is included in the contract.

The vessels, which will be deployed in Russia’s Murmansk and Kamchatka, will play the role of intermediate stations. Their installation will allow for LNG to be transported much faster to Europe and Asia, and will significantly reduce the cost of cargo servicing.

Also on rt.com Putin expects Russia to boost LNG output five-fold to 140mn tons by 2035

“With the conclusion of this contract, our company was able to once again prove to the market our advanced technologies in the field of LNG. Due to the consequences of the coronavirus, some major projects were postponed, so this order will help the company gain stability,” DSME said.

Novatek plans to build a 20 million ton LNG transshipment and storage complex in Murmansk Region in order to optimize logistics and transportation costs. It is also aiming to organize a LNG transshipment point in Kamchatka with a volume of 20 million tons per year. Both terminals are scheduled to be launched around 2022.

For more stories on economy & finance visit RT's business section

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.

Podcasts