Investments in shipbuilding in Russia will only be relevant if they are made in conjunction with schedules of oil and gas projects

15 june 2015 | Expert

The decline in the activity of fuel and energy companies on the shelf is no reason to abandon investments in technologies for the Arctic exploration. If there are orders placed, Saint Petersburg-based companies can offer solutions for the Russian market and possibly for the international market, experts believe.

Aleksey Grigoriev
Aleksey Grigoriev
Department for Expert Analytics

In 2014, Vladimir Putin said that for the industrial Arctic exploration 512 vessels would be needed until 2030 and estimated that they would cost 6.5 trillion rubles to build, Expert writes. But E&Y analysts cite more modest figures. They have estimated that if Russia wants to explore the Arctic shelf, it is going to need about 254 vessels by 2030: 34 platforms, 27 research vessels, 35 tankers, 23 LNG tankers, 20 icebreakers, 90 support vessels and 25 vessels for installation and underwater operations.

However, without cooperation with other countries, achieving this goal may prove problematic, considers the Analytical Center expert Aleksey Grigoriev. “General trends in global shipbuilding are globalization and cooperation. Not even the most developed country in the world can build all possible types of vessels. As some maritime equipment is extremely unique and because of savings that can be achieved this way, international cooperation is going to be indispensable,” the expert commented on the situation.

As for the fleet of icebreakers based in Saint Petersburg, the bulk of orders to build an Arctic fleet is coming from the state, the expert pointed out. “In the projects that are already being implemented such as the Yamal LNG, the state is taking care of the transport component, acting through Rosmorport, Rosatom Flot and Sovcomflot,” Mr. Grigoriev explained. At the same time, he noted that investments in shipbuilding in Russia will only be relevant if they are made in conjunction with schedules of oil and gas projects, and if it proves to be more efficient in terms of economy than placing orders abroad.