12:42 GMT +318 November 2019
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    A file picture taken on May 6, 2005 shows a view of Hyundai Heavy Industries shipyard in Ulsan

    Rosneft, Hyundai Heavy to Begin Production of Gas Motor Fuel Tankers by 2020

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    2016 Eastern Economic Forum in Russia's Vladivostok (41)
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    Russian state-owned oil giant Rosneft jointly with South Korean Hyundai Heavy company expects to start production of tankers running on natural gas motor fuel by 2020, Rosneft CEO Igor Sechin said Saturday.

    VLADIVOSTOK (Russia), (Sputnik) — Earlier in the day, Rosneft signed an agreement with Hyundai Heavy on the Basic Principles of a Joint Venture for Engineering and Project Management.

    "A joint venture with Hyundai Heavy on engineering and production of large-capacity Aframax tankers running on natural gas motor fuel. As you know, it will be a mandatory requirement for tankers to have a propelling system running on gas motor fuel to pass through certain channels and straits," Sechin told reporters at the second Eastern Economic Forum (EEF).

    He added that the Russian side would get a control share in the joint venture.

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    2016 Eastern Economic Forum in Russia's Vladivostok (41)

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    tanker, 2016 Eastern Economic Forum, Hyundai Heavy Industries, Rosneft, Igor Sechin, South Korea, Russia
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