Russia looking to sell part of Sovcomflot

Published by David Rowlands, Editor
LNG Industry, Thursday, 18 May 2017 14:45

According to Reuters, Russia is looking to sell a portion of its state shipping firm Sovcomflot, ideally hoping to attract a range of small-stake investors, as opposed to one strategic buyer that could affect Moscow’s control of the company.

To read the full article
"Russia looking to sell part of Sovcomflot"
Please sign in or become a member for FREE

The company transports oil from remote locations that are not connected to Russia’s pipeline system. In addition to this, the company is under contract to ship LNG from the Yamal LNG plant in Northern Siberia, Russia.

Reuters reports that Russia is specifically looking to sell 25% of the state shipping firm, and is hoping to earn up to 30 billion rubles (US$533 million) in the process.

The news agency added that one government source, as well as two banking sources close to the process, claimed that Russia was planning to close the sale by the end of June 2017.

Read the article online at: https://www.lngindustry.com/lng-shipping/18052017/russia-looking-to-sell-part-of-sovcomflot/

LNG Fuel 2020

LNG Fuel 2020 is an online conference for professionals in the 'LNG as a marine fuel' sector. Since this is a completely virtual conference, you can join us from anywhere in the world, absolutely free. Register for free today »

LR agrees JDP to design LNG-fuelled VLCC

Friday 20 September 2019 12:45

Lloyd’s Register has agreed a JDP with CMES, GTT, CNOOC and DSIC, to design the first in a new generation of LNG-fuelled VLCCs.

You might also like