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VEB Group to support development of the oil transportation infrastructure

During the Eastern Economic Forum, VEB Group has entered into a set of agreements with Sovcomflot Group and Zvezda Shipyard to build two next-generation large-capacity Aframax oil tankers. The financing will be provided by VEB-Leasing.

The agreements were signed by Igor Shuvalov, Chairman of Vnesheconombank, Igor Sechin, CEO of Rosneft, Sergey Frank, President and CEO of Sovcomflot and Artem Dovlatov, Head of VEB-Leasing.

The new-generation tankers will run on LNG fuel and will meet all high environmental standards and new regulations limiting emissions in the Baltic and North Seas. The use of LNG will significantly reduce harmful emissions to the environment: sulphur oxides (SOx) by 100%, nitrogen oxides (NOx) by 76% and carbon dioxide (CO2) by 27% as compared with heavy fuel.

The vessels will have a deadweight of 114,000 tonnes and a 1A/1B ice class, enabling them to operate all year round in difficult ice conditions, including Subarctic Seas and Russian ports in the Baltic region.

In addition, there are plans to implement joint projects to build vessels in Russian shipyards. A particularly strong focus will be placed on import substitution projects.

“Shipbuilding industry is an investment priority for Vnesheconombank. The construction of new tankers in Zvezda Shipyard will give a new impetus to the development of Russian shipbuilding industry and will help create high-potential international transport corridors. Importantly, the environmental profile of the new tankers that will operate on natural gas fuel meets the highest requirements of international conventions,” said Igor Shuvalov.

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