Joint venture companies belonging to Sovcomflot (SCF Group) and NYK Line have signed a new USD 176 million non-recourse credit facility for eight years with three leading international banks: Sumitomo Mitsui Banking Corporation of Japan (through its German subsidiary, SMBC Bank EU AG); Société Générale of France, and Shinsei Bank of Japan. 

The World Ocean Council (WOC) and LNG Marine Fuel Institute (LNG MFI) have forged a partnership to collaborate in advancing LNG as a marine fuel, and the research and development of technical standards, regulations and management strategies for LNG in the global shipping trade.

MAN Cryo – MAN Energy Solutions’ marine LNG fuel-gas-system manufacturer – has announced that it will supply an LNG fuel-gas supply system to Norwegian ship owner, Egil Ulvan Rederi, for a ‘multipurpose palletised cargo and refrigerated vessel’ newbuild, also known as a LoLo (Lift-on/Lift-off).

A large-scale project for developing gas fields is in full swing as Samsung Heavy Industries has been selected as a technological partner of Arctic LNG carriers for Arctic LNG 2 project of Russia to assist Zvezda with the construction of Arctic LNG carriers and to provide technological support.

On 2 September 2019 at 08:20 Moscow time, Korolev Prospect, Sovcomflot’s LNG-fuelled Aframax crude oil tanker, successfully completed a commercial voyage along the Northern Sea Route (NSR).

Total, Novatek and the other project shareholders have approved the final investment decision (FID) for Arctic LNG 2, a major liquefied natural gas (LNG) development located on the Gydan peninsula, Russia.