LNG

Russia has brought in tax breaks for Arctic region liquefied natural gas and oil projects proposed for Northern Siberia where increased output will help take the Russian LNG export total to 75 million tonnes per annum.

Sovcomflot Group, the Russian shipping line with 12 liquefied natural gas carriers in its fleet, narrowed its annual net losses as charter rates improved for LNG and energy trading sectors amid continuing difficult conditions during mid-2018.

Russian shipping line Sovcomflot has placed an order at Zvezda Shipbuilding for construction of three new generation product carriers powered by liquefied natural gas as their primary fuel.