Russia to start eastward oil, gas shipments via Arctic in 2010

Sovcomflot, Russia’s largest shipping company, will start delivering Russian oil and gas in the eastern direction of its Arctic shipping lane in the summer, the company head said on Saturday.

At a meeting with Russian Prime Minister Vladimir Putin, Sergei Frank said Sovcomflot was planning to launch pilot shipments of Russian hydrocarbon reserves in the eastern direction of the Northern Sea Route, from the Atlantic to the Pacific via Russia’s Arctic, later this year.

Frank said the goal was to expand oil and gas markets for domestic energy producers and enter new ones.

He said the eastward shipment experience would later be used in the development of West Siberia’s Yamal fields and also for liquefied natural gas (LNG) supplies.

Ria Novosti