UPDATED: Korean key to Shtokman LNG
The United Industrial Corporation, the state-owned company which includes several Russian shipyards, has signed a memorandum of understanding with Hyundai Heavy Industries. The agreement might function as basis for the construction of Shtokman LNG carriers.
The intention with the MOU is to establish a cooperation which includes joint development of ship building project, equipment and ship design, a press release from the Russian company reads.
The MOU is intended to give the South Korean shipyard a key role in the development and construction of Russian LNG carriers.
The Hyundai Heavy Industries is from before engaged in Shtokman development through its cooperation with the Vyborg shipyard near Sankt Petersburg. While the Vyborg Yard is constructing the basis parts for two rigs to be applied in the Shtokman field, it is the Korean yard which is responsible for the more complex topsides.
As BarentsObserver recently reported, the Northern Shipyard (Severnaya Verf) in Sankt Petersburg now looks set to become key company in the construction of LNG carriers for the Shtokman developers. It is natural to believe that also this Russian yard will link up with the Hyundai Heavy Industries for technical assistance.
Previously, the United Shipbuilding Corporation signed a similar MOU with the Samsung Heavy Industries.
The new agreement with the United Industrial Corporation strengthens the role of the Koreans in the Shtokman project, where about half of the 3,8 trilion cubic meters of gas resources is planned exported as LNG. The agreement could however give the Korean yard a key role also in several other Russian gas projects. Troubled by instable export transit routes, Russia has made LNG development top priority. However, as within offshore development, the Russians are dependent on alliances with foreign expertise also in the LNG sector. The Koreans might be able to provide exactly that.
