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Egypt Central Bank Keeps Key Interest Rates Unchanged

A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
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Egypt Central Bank Keeps Key Interest Rates Unchanged

A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo

Egypt's central bank kept its key interest rates unchanged on Thursday, it said in a statement.

The overnight lending rate remained at 28.25%, while the overnight deposit rate stood at 27.25%, the central bank said.

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Russia’s First Ice-Class LNG Carrier Enters Sea Trials, Data Shows

A concrete gravity-based structure (GBS) of Arctic LNG 2 joint venture is seen under construction in a dry dock of the LNG Construction center near the settlement of Belokamenka, Murmansk region, Russia July 26, 2022. (Reuters)
A concrete gravity-based structure (GBS) of Arctic LNG 2 joint venture is seen under construction in a dry dock of the LNG Construction center near the settlement of Belokamenka, Murmansk region, Russia July 26, 2022. (Reuters)
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Russia’s First Ice-Class LNG Carrier Enters Sea Trials, Data Shows

A concrete gravity-based structure (GBS) of Arctic LNG 2 joint venture is seen under construction in a dry dock of the LNG Construction center near the settlement of Belokamenka, Murmansk region, Russia July 26, 2022. (Reuters)
A concrete gravity-based structure (GBS) of Arctic LNG 2 joint venture is seen under construction in a dry dock of the LNG Construction center near the settlement of Belokamenka, Murmansk region, Russia July 26, 2022. (Reuters)

The first Russian-built ice-class liquefied natural gas (LNG) carrier has entered sea trials, LSEG data showed on Friday, as part of Russia's efforts to raise global LNG market share despite US sanctions.

The tanker, named Alexey Kosygin after a Soviet statesman, was built at the Zvezda shipyard and is due to join the fleet of vessels for Russia's new Arctic LNG 2 plant, which has been delayed because of the US sanctions over the conflict in Ukraine.

The US Treasury has also placed sanctions on the new vessel, which Russia's leading tanker group Sovcomflot ordered to be built at Zvezda, Russia's most advanced shipbuilding yard. LSEG ship-tracking data shows it is anchored near the Pacific port of Vladivostok.

Sovcomflot has not replied to a request for comment.

Novatek, which owns 60% of Arctic LNG 2, has said 15 Arc7 ice-class tankers that are able to cut through two meter (6.5 ft) thick ice to transport LNG from Arctic projects, will be built at Zvezda shipyard.

According to a source familiar with the matter, Novatek shut down commercial operations at the first and only operational train of its Arctic LNG 2 project in October with no plans to restart it during winter.

Ice-class tankers usually have double hulls - strengthened structures to withstand the pressure of ice - and reinforced propellers.

So far, only three suitable gas tankers have been built for Arctic LNG 2, according to public information: the Alexey Kosygin, Pyotr Stolypin and Sergei Witte vessels.

Six more Arc7 tankers were due to be built by Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering, including three for Sovcomflot and three for Japan's Mitsui O.S.K. Lines.

However, the three tankers ordered by Sovcomflot were cancelled due to the sanctions against Russia, Hanwha said last year in regulatory filings.