Gazprom Marketing & Trading (GM&T) and OOO “Gazprom Flot” have signed an agreement to provide technical and commercial advisory services during the construction of a Floating Storage and Regasification Unit (FSRU). Both companies are subsidiaries of PAO Gazprom.
The FSRU was ordered earlier this year by Gazprom at Hyundai Heavy Industries (HHI) shipyard in Ulsan (South Korea). The FSRU will be delivered in November 2017 and used to supply natural gas to the Kaliningrad Region of Russia.
The FSRU will combine excellent LNG storage (max capacity 174,100 cbm) and natural gas processing (max sendout 500 mmscf/day) capabilities with superior sea-going (speed up to 19.5 knots), energy efficiency (BOR below 0.09%/day) and ice (Arc 4 ice class from the Russian Maritime Register of Shipping) characteristics, which will enable the FSRU’s flexible utilisation as a regasification plant, an LNG shuttle or a conventional LNG carrier depending on the energy security situation in the Kaliningrad Region.
In addition, the FSRU will be adapted for handling small-scale LNG vessels for Gazprom’s future LNG bunkering business in the Baltic Sea. It also includes expanded accommodation and specialised equipment for shipboard and LNG handling training of cadets from the Russian maritime universities.
GM&T’s Shipping unit provided technical and commercial advisory to Gazprom during the development of the FSRU’s technical specifications and the negotiation of the shipbuilding contract with HHI. Now it will be providing technical expertise and supervising the full cycle of the shipbuilding process, including the detailed design, construction, commissioning and delivery of FSRU. It will also provide advice on the selection of technology, with a specific emphasis on LNG ship-to-ship transfers, ice and cold temperature operations and small scale LNG solutions to comply with the most advanced industry practices.
Mr. Nikolai Grigoriev, Global Director of Shipping, GM&T said, “This project builds upon the strong technical expertise of GM&T in LNG and ice class shipbuilding and operations. We are extremely proud to support Gazprom, our parent company, and to be involved in the construction of the world’s first ice-class FSRU with such advanced technical characteristics, and of such importance for Russia.”
About Gazprom Marketing & Trading Ltd
Gazprom Marketing & Trading Limited (GM&T) is a wholly-owned subsidiary of PAO Gazprom (“Gazprom”), the world’s largest gas company by asset base, accounting for 18% of the world’s total natural gas reserves and for about 70% of natural gas reserves in Russia. GM&T was established in 1999 to manage Gazprom's marketing and trading activities in the liberalised markets of Europe.
GM&T is headquartered in London, with offices in Singapore, USA, France, Germany, Switzerland and the UK and offers a unique suite of products from gas and electricity marketing, trading and supply, to LNG, LPG, oil, carbon and FX deals. The Shipping team provides safe, reliable and economical shipping and cargo management solutions. There is also a retail business trading as Gazprom Energy.
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