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Sovcomflot and Total increase cooperation in LNG transportation

Sovcomflot is Russia’s largest shipping company and one of the global leaders in the maritime transportation of hydrocarbons.

Sovcomflot and Total increase cooperation in LNG transportation

Moscow, January 21 - Neftegaz.RU. Sovcomflot (SCF) and French Total have concluded a time charter agreement for up to 7 years for a newbuilding 174,000-cbm LNG carrier, to be owned and operated by SCF, with options for up to 2 additional vessels.

The ceremony was held today and was attended via videoconference by:
  • Igor Tonkovidov, CEO of Sovcomflot;
  • Thomas Maurisse, Senior VP for LNG at Total,
  • Seong-Yong Park, Chief Operating Officer of Hyundai Heavy Industries.
Igor Tonkovidov said:
  • SCF’s shipbuilding programme will be supplemented with a new gas carrier that meets all the current international standards regarding environmental protection, as well as the Charterer's requirements for energy efficiency, quality and navigational safety
  • We are grateful to our valued partners at Total for the opportunity to participate in this project which extends further our cooperation in LNG transportation with one of the world’s leading international energy companies
  • The continued development of our energy transportation services that serve long-term projects, provides the fixed return element to SCF’s business model. It allows us to reduce the negative impact of conventional tanker freight market fluctuations on the company’s results
The new vessel will be the latest in a series of SCF’s new-generation conventional Atlanticmax LNG carriers, with 3 sister ships already in operation: SCF La Perouse, SCF Barents and SCF Timmerman.

The vessel will be fitted with an X-DF propulsion system, operated by a slow-speed diesel engine with a direct drive to the propellers, which will enable a substantial reduction in the vessel’s fuel consumption when compared with previous generations of LNG carriers.

The new carrier will also be fitted with a hull air lubrication system which, combined with 2 shaft power generators with frequency-to-current converters, is expected to deliver a further significant decrease in fuel consumption and greenhouse gas emissions.

Another environmental feature of this series of new-generation vessels is a partial re-liquefaction system, which allows cargo boil-off gas to be returned to the tanks.
Delivery of the LNG carrier to the Charterer is scheduled for the 3rd quarter of 2023.

To read the news in Russian.

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