Sovcomflot, Gazprom Neft Partner Up to Decarbonize Shipping

Russian shipping firm Sovcomflot and oil firm Gazprom Neft have signed an agreement to develop innovative technologies and use low-carbon fuels in maritime transport.

The document was signed by Igor Tonkovidov, President and CEO of Sovcomflot, and Alexander Dyukov, Chairman of the Management Board, CEO, Gazprom Neft.

The agreement defines that the two Russian companies will seek cooperation opportunities in the reduction of ship emissions and reinforcement of safety and efficiency by introducing innovative and digital technologies.

It also says that companies will study the prospects of low-emission ships construction that use alternative fuels (including LNG, ammonia, hydrogen, and methanol) and will jointly develop the necessary engineering solutions.

Igor Tonkovidov, President and CEO of Sovcomflot said:"We welcome the opportunity to expand our cooperation with Gazprom Neft, a long-standing partner and one of our largest charterers. There is a clear indication that the continued joint efforts to introduce innovations and digitalize energy transportation solutions will help both companies attain their strategic goals."

Alexander Dyukov, Chairman of the Management Board, CEO, Gazprom Neft, said:"Sovcomflot is Gazprom Neft’s main maritime-logistics partner. Vessels owned by Russia’s largest commercial shipping operator transport more than eight million tonnes of Gazprom Neft Arctic blends annually. We are already using digital solutions in working with Sovcomflot and, under this new agreement, will be continuing to develop technologies together. The planned use of liquefied natural gas and other low-carbon ship fuels will ensure stronger environmental standards for Arctic shipping."