Russia’s offshore oil and LNG should be secured to national flag ships from 2020, RF Transport Ministry says

The Bill on Subsurface Resources Management provides a legislative framework for securing of certain cargoes to vessels flying the flag of the Russian Federation, IAA PortNews journalist refers to Victor Olersky, deputy Transport Minister of Russia, as saying at the general meeting of Russian Chamber of Shipping. 

“The Ministry of Transport does not insist on securing all cargoes to Russian flag ships in this Bill – it is not reasonable. As for oil and liquefied natural gas (LNG) produced on the Russian shelf, I think it is reasonable to secure this cargo to the national flag. The regulations are to come into effect on in 2020”, the official explained the Ministry’s position. 

He also added that it is looking into securing all works on offshore oil production including seismic operations and support works to national flag ships in the nearest future.