Partnership is aimed at providing logistics solutions for large-scale industrial projects in Russia.
Several multi-billion investment projects are about to be launched in Russia’s energy sector. But the market is lacking specialized companies to provide high-end project logistics solutions. For this reason, CREON Group and China’s logistics leader COSCO agreed to form a consortium to contribute to large-scale industrial projects such as Liquefied Natural Gas (LNG) plant Arctic-2 planned by Novatek and its partners.
The signing ceremony took place in Moscow during the annual Russia-China conference of the Russian International Affairs Council. Mr. Ge Hua, CEO of COSCO’s Joint Venture CSL-VASTWIN, signed on behalf of the Chinese company. This logistics giant’s entity is specialized on global logistics solution for industrial projects and will ensure shipments across China. Logistics solutions in Russia will be provided by Inventra, part of CREON Group. Shipments of components from Southeast Asia will be coordinated by Creon Energy Asia, while the Luxembourg-based logistics company will focus on EU markets.
Processing hydrocarbons and gas liquefaction continue to be major trends in the Russian industry. The investment volumes in oil and gas downstream projects are expected to exceed 100 billion USD within the next five years. CREON Chairman Dr. Fares Kilzie said:
“When companies such as Novatek realize their ambitious investment plans in the Arctic, they must rely on professional logistics providers to keep the deadlines and budgets. Our consortium is ready to take the challenge and tackle the complexity”.