9 Oct 2017 13:43

Novatek may involve foreigners in mgmt of Kola Shipyard

MOSCOW. Oct 9 (Interfax) - Novatek is considering involving foreign partners in the management of its subsidiary LLC Kola Shipyard, which will build platforms for liquefied natural gas (LNG) plants, company chief Leonid Mikhelson told journalists.

He said that the company is currently discussing this subject.

"We are holding fruitful consultations on matters regarding the shipyard's construction with foreign partners. We are considering involving them in this and in providing services for managing the shipyard in the future," he said.

"We aren't sure that, as the client, we need to have the professional capabilities to manage the shipyard. It is more practical to have a partner which has this experience," Mikhelson said.

Mikhelson had earlier said that Novatek was discussing the possibility of participating in the management of the Kola Shipyard with Italy's Saipem. In addition to the Italian company, this matter was also discussed with two partners which had supplied modules for Yamal LNG. "A decision on the creation of a managing company and partners for it should be made this year," he said.

Kola Shipyard is due to be launched, as before, in 2019.

Novatek is still not planning to involve foreign investors in the Kola Shipyard project. "We are not discussing equity participation in Kola Shipyard. We don't have a pressing need to involve anyone as a financial partner," Mikhelson had said earlier.

He said that investment in the first start-up complex of the Kola Shipyard will be 50 billion rubles. Including investments in topside modules, the total cost of the projects could preliminarily be estimated at 80-90 billion rubles. The construction of Kola Shipyard started in June. Preparatory ground works and mining and blasting works are being carried out.