Russia sending main crude through the Arctic

Russia is sending its main crude oil through the Arctic Sea for the first time. Two oil tankers, between them carrying about 1.5m barrels of Urals crude from the port of Primorsk in western Russia, sailed through the Arctic ocean to China in recent weeks, according to ship-tracking data compiled by Bloomberg.

Meanwhile, SCF Group and Russian financial institution VEB.RF Group have signed an agreement for lease financing of the lead LNG tanker in a series of icebreaking LNG carriers that are expected to be built to serve the Arctic LNG 2 project.

SCF Group and NOVATEK Group have signed a long-term time charter agreement for the tanker.

The vessel will be constructed at Zvezda Shipbuilding Complex in the Russian Far East and will be designed for year-round operations in the Kara Sea and The Gulf of Ob. She will be able to sail independently through ice over two meters thick.

All the LNG carriers in the new series will be operated under the Russian flag. The Russian Maritime Register of Shipping (RS) will provide technical supervision during the construction of the vessel series.