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Russia’s United Shipbuilding Corporation in $1.8B JV with S. Korea STX Shipbuilding for LNG transport

Russia state-owned shipbuilder United Shipbuilding Corporation will form a $1.8B joint venture agreement with South Korea’s STX Shipbuilding to build a new generation of LNG (liquefied natural gas) facilities at the Novo-Admiralteysky shipyard in Saint Petersburg to meet the needs in the transport of LNG from Russian fields in the arctic and subarctic shelf.

The JV agreement was announced on the second day of the St. Petersburg International Economic Forum (“the Russian Davos”).

Also at the Forum, USC announced entering into a $1-billion agreement for the construction of three to four seismic survey vessels with Sovcomflot (SCF), the world’s largest operator of ice-class vessels.


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