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Saudi Arabia, Netherlands Sign MoU to Collaborate on Energy

The MoU was signed within the framework of the visit paid by the Saudi Minister of Energy to the Netherlands. Photo: Energy Ministry
The MoU was signed within the framework of the visit paid by the Saudi Minister of Energy to the Netherlands. Photo: Energy Ministry
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Saudi Arabia, Netherlands Sign MoU to Collaborate on Energy

The MoU was signed within the framework of the visit paid by the Saudi Minister of Energy to the Netherlands. Photo: Energy Ministry
The MoU was signed within the framework of the visit paid by the Saudi Minister of Energy to the Netherlands. Photo: Energy Ministry

Saudi Minister of Energy Prince Abdulaziz bin Salman Al Saud and the Dutch Minister of Economic Affairs and Climate Policy, Micky Adriaansens, have cosigned a memorandum of understanding (MoU) in the field of energy.
The MoU aims to establish a framework for cooperation between the two countries and strengthen it in several energy sectors, including renewable energy, energy efficiency, electricity, and other sectors and issues related to energy security and transitions, such as clean hydrogen. It also facilitates the formation and activation of international supply chains linking the two countries and cooperation on technologies and solutions related to climate change mitigation, such as the circular carbon economy and its technologies.

The MoU was signed on Thursday within the framework of the visit paid by the Saudi Minister of Energy to the Netherlands to attend the World Hydrogen 2023 Summit & Exhibition, which was held in Rotterdam from May 10 to 11.
Within the framework of many issues related to the global hydrogen industry and supplies, which were discussed in the summit, the prince participated in a session entitled, "The Global Aspirations of the Kingdom of Saudi Arabia in the Field of clean hydrogen."

He reviewed the global directions and aspirations of the Kingdom in this field and projects that are being implemented in Saudi Arabia.

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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.