Sovcomflot enters a series of important agreements at SPIEF-2019


On 6–8 June 2019, a Sovcomflot delegation headed by President & CEO Sergey Frank participated in the St. Petersburg International Economic Forum-2019 (SPIEF-2019). The delegation included Senior Executive Vice President Evgeny Ambrosov, Executive Vice President – CTO/COO Igor Tonkovidov, Executive Vice President – CFO Nikolay Kolesnikov, and Head of LNG Transportation Fleet Management and Development Division Dmitry Rusanov. During the Forum Sovcomflot entered a series of important agreements:

  • Sovcomflot, NOVATEK, COSCO Shipping Group, and the Silk Road Fund signed a four-party agreement to create a Maritime Arctic Transport joint venture. The focus of the Maritime Arctic Transport is to create and manage a fleet of icebreaking tankers to ensure safe year-round transportation of LNG for for current and planned NOVATEK projects, including Yamal LNG; Arctic LNG 2, and others.
  • SCF Group and Gazprom Neft Marine Bunker signed a cooperation agreement regarding the implementation of projects for bunkering ships with LNG fuel. The agreement reinforces the mutual interest of both parties regarding their cooperation in the bunkering of Sovcomflot's tankers with LNG fuel. Such activities also correspond with the state programme for expanding the use of LNG fuel within the transportation sector. Compared with standard marine fuels, using LNG fuel enables a significant reduction in sulphur oxides, nitrogen oxides, carbon dioxide, and particulate matter emissions.
  • SCF Group and the VEB.RF Group signed a set of agreements whereby VEB Leasing will provide financing for the construction of three new-generation MR product carriers that will use cleaner-burning LNG as a primary fuel. The vessels will be built at Zvezda Shipyard in Primorsky region and time-chartered to NOVATEK under 20-year agreements.

As part of the Forum’s activities, honoured foreign guests and key company partners visited the Sovcomflot headquarters. 

These meetings included a session with the President of ExxonMobil Russia Glenn Waller and President of ExxonMobil Development Neil Duffin on 6 June. On the same day, the company's office was visited by the Ambassador of Finland to Russia Mikko Hautala and Deputy Minister of Economic Affairs and Employment of Finland Jari Gustafsson. On 7 June, an official visit of the COSCO Shipping Group delegation, headed by the Chairman of the Board Xu Lirong, took place. A meeting with the Global Head of Transaction Services for ING Gerlach Jacobs was also held at the SCF office.

On 8 June, the SCF office was visited by the Russia's Minister of Energy Alexander Novak and Saudi Arabia's Minister of Energy, Industry and Mineral Resources Khalid Al-Falih. The guests were shown the Operation Control, Engineering, and Training Centres of SCF Group. During the visit, Alexander Novak and Khalid Al-Falih had a meeting with captains who operate SCF vessels of high ice class servicing large-scale oil and gas projects in the Arctic Sea Basin, as well as new-generation 'Green Funnel' tankers.

SCF Press Service

Sovcomflot (SCF Group) is one of the world's leading energy shipping companies, specialising in the transportation of crude oil, petroleum products, and liquefied gas, as well as the servicing of offshore oil and gas exploration and production. The company’s fleet includes 146 vessels with a total deadweight of over 12.8 million tonnes. More than 80 vessels have an ice class.

Sovcomflot is involved in servicing large oil and gas projects in Russia and around the world: Sakhalin-1; Sakhalin-2; Varandey; Prirazlomnoye; Novy Port; Yamal LNG, and Tangguh (Indonesia). The company is headquartered in Saint Petersburg, with offices in Moscow, Novorossiysk, Murmansk, Vladivostok, Yuzhno-Sakhalinsk, London, Limassol, and Dubai.