World News
Gazprom Neft to Work With Sovcomflot on Low-Carbon Marine Fuels
Russian oil producer Gazprom Neft has signed a deal with shipping firm Sovcomflot to work together on the development and use of low-carbon fuels.
The two firms signed the agreement at the Eastern Economic Forum in Vladivostok this week, Gazprom Neft said in an emailed statement on Friday.
Under the agreement the two companies will work on decarbonising shipping through the use of LNG, hydrogen, ammonia and methanol as alternative bunker fuels, as well as expanding the use of digital technologies to improve efficiency in Arctic maritime operations.
"Sovcomflot is Gazprom Neft's main maritime-logistics partner," Alexander Dyukov, chairman of Gazprom Neft, said in the statement.
"Vessels owned by Russia's largest commercial shipping operator transport more than eight million tonnes of Gazprom Neft Arctic blends every year.
"We are, already, using digital solutions in working with Sovcomflot and, under this new agreement, will be continuing to develop technologies together.
"Added to which, our plans to use liquid natural gas and other environmentally friendly fuels in refuelling vessels is going to ensure still greater environmental friendliness in Arctic shipping."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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