Speaking to RIA Novosti Wednesday, Sovkomflot Deputy Chief Executive Alexander Krasnenkov said the company's strategy was primarily about the transportation of Russian hydrocarbons abroad and that its winning 2004 bid for the Sakhalin II project, envisaging gas shipments to commodity markets in Japan and the United States, was fully consistent with that strategy.
Earlier this week, Sovkomflot management announced that the company had been awarded yet another contract for the delivery of Russian liquefied gas to foreign consumers. This second contract is part of an Indonesian project known as Tangu.
In Mr Krasnenkov's view, the fact that Sovkomflot has already won two such contracts is a clear indication that the group is gradually gaining foothold on the liquefied gas transportation market.
In bidding for the Tangu contract, Sovkomflot was driven by the desire to put its expertise to test and to show its willingness to engage in ambitious projects to business partners, the deputy CEO explained.
"Presently we're negotiating financing terms with a number of European and Japanese banks. Specifically, we'll be holding a new round of negotiations with Nordea Bank, Citygroup, and the Japanese Financial Agency," said Mr Krasnenkov.
Sovkomflot has won the Taigu bid in conjunction with Japan's NYK. The alliance has been given preference over other eight bidding partnerships, including leaders of the market such as Exmar, AP Moeller, and Hyundai.
Under the contract, designed for a period of twenty years, Sovkomflot and NYK shall ensure the agreed amount of deliveries by mobilizing seven gas tankers, each with a filling capacity of 130,000 to 160,000 cubic meters. Shipments within the Taigu project are to begin in 2008, with Mexico and Korea as their two main destinations.
Sovkomflot is a major Russian ship operating company, which runs a fleet of 48 vessels, with the total deadweight at 3.6 million tons and the average age at 5 years. It is 100 percent government-owned.
