Crimean shipyards considered for Russian LNG fleet

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Space Travel News

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Crimean shipyards considered for Russian LNG fleet
by Daniel J. Graeber
Moscow (UPI) Apr 25, 2013

Nassiriya oil field venture mulled by Russia's Lukoil
Moscow (UPI) Apr 25, 2013 - Russian oil company Lukoil is considering joining a joint venture to develop the Nassiriya oil field in Iraq, the company's board of directors said.

Lukoil, Russia's largest private oil company, said its board of directors were considering a joint venture with its counterparts at Russia's state-owned exploration and production company Zarubezhneft to develop the oil field and help build an associated refinery.

Lukoil is already involved in developments of the West-Qurna 2 project in southern Iraq. The company said it recently signed an agreement with the Iraqi Ministry of Industry to estimate the prospects for building a plant that would utilize gas associated with the oil field.

First oil was produced from West Qurna-2 in March. It reached a daily production reach of 120,000 barrels and has an estimated 34 billion barrels worth of recoverable reserves.

Iraqi oil production from January to February, the last full month for which data are available from the Organization of Petroleum Exporting Countries, increased 13 percent to 3.3 million bpd.

The Russian Ministry of Industry and Trade said Friday it was reviewing options to build ships for liquefied natural gas transport at Crimean ports.

The government said a number of shipbuilding companies in Crimea and Sevastopol are either idled or working at below capacity.

"One of the options for filling the bag orders of the shipbuilding yards is being developed by the Ministry of Industry and Trade, and it is the possibility of building LNG carriers for shipping liquefied natural gas from the Russian arctic oil fields," the ministry said.

A former Soviet republic, Ukraine has tilted toward the European Union following a November uprising. Last month, Russian President Vladimir Putin signed a treaty to annex Crimea, a peninsula of Ukraine, and geopolitical and military tensions continue to escalate.

Crimean officials have said Russian energy company Gazprom aims to tap into the more than 50 billion cubic feet of gas available in the peninsula.

In early April, Putin said the manufacturing and industrial sectors in Crimea were underdeveloped and in need of modernization and additional investments.

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