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Zvezda Shipyard should be built despite declining hydrocarbons prices — Russian Deputy PM

November 19, 2015, 10:38 UTC+3 VLADIVOSTOK

The new Zvezda Shipyard in the Primorsky Region will be built in three stages, the project is valued at 129 bln rubles ($2 bln)

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© Yuri Smityuk/TASS

VLADIVOSTOK, November 19. /TASS/. Zvezda Shipyard in Russia’s Far East where tankers, LNG carriers and platforms for offshore fields should be built despite declining hydrocarbons prices, Deputy Prime Minister and Presidential Plenipotentiary in the Far Eastern Federal District Yuri Trutnev said on Thursday.

"Hydrocarbons will in any case enjoy the demand in the near term. It means development of greenfields, support vessels and drilling platforms will be needed. All that should be built in Russia so that billions of rubles do not flow abroad and create jobs for Far East residents, rather than in neighboring countries," Trutnev said.

"The situation on hydrocarbons market is challenging. In other words, high prices making possible to easily structure such a project two years ago changed significantly for the time being," the official added.

The new Zvezda Shipyard will be built in three stages. The shipbuilding cluster development project in the Primorsky Region is valued at 129 bln rubles ($2 bln). The new shipyard is expected to build tankers with displacement up to 350,000 tons, LNG carriers, other ice-rated vessels and offshore oil platforms. The first stage is scheduled for completion in 2016.

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