PRESS: Zvezda eyes 53.44 bln rbl subsidies for Novatek ships

MOSCOW, Apr 8 (PRIME) -- Russia’s Far Eastern shipyard Zvezda may receive 53.44 billion rubles of subsidies in 2020–2023 for construction of liquefied natural gas (LNG) carriers and tankers for the Arctic LNG-2 projects of independent gas producer Novatek, Kommersant business daily reported on Monday.

According to Kommersant, the Industry and Trade Ministry prepared an amended draft government ruling, under which the maximal subsidies will be reduced to 20% of an LNG carrier cost from 30% for LNG carriers and to 10% from 20% for tankers. In total, the shipyard is to build 15 LNG carriers and three tankers.

The ruling puts the cost of an LNG carrier at U.S. $375.6 million and the cost of a tanker at $65.5 million. This means that Zvezda may receive 5.24 billion rubles of subsidies in 2020, 14.42 billion rubles in 2021, and 16.88 billion rubles per year in 2022–2023, Kommersant calculated.

The amended drat ruling also now allows Zvezda to apply for other types of state support, but also sets a fine for delay of construction at 0.33% of the central bank’s key rate for each day of delay after the deadline, the business daily said.

A ministry representative said that the draft ruling is now coordinated with other ministries, and will be submitted for consideration again very soon.

(65.4072 rubles – U.S. $1)

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