OREANDA-NEWS. November 10, 2009. Sovcomflot President and CEO S. Frank, Novoship President I.Tonkovidov and Trans-Balkan Pipeline B.V. General Director A. Tarakanov signed The Intentions Agreement in Moscow. This agreement is a part of the Burgas-Alexadroupolis Pipeline Project. It represents the development of mutually beneficial partnership and cooperation in stable and safe transshipment and transportation of liquid hydrocarbons in the route Port of Novorossiysk/Port of Ozereyevka.
All parties under the Agreement committed to promote cooperation in developing effective and safe logistics scheme, technical and commercial terms for the transportation of liquid hydrocarbons in the route Novorossiysk-Burgas and between other ports, if required for the project implementation.

The total length of the Burgas-Alexadroupolis Pipeline is about 300 km. The annual volume of the pumped oil at the first stage is around 30 million tonnes with the projected increase up to 50 million tonnes. The cost of the project may amount to USD 900 million. The project will allow to reduce oil tankers traffic through Bosporus and Dardanelles.
Sovcomflot (SCF) Group –is one of Russia’s largest infrastructure enterprises. Its fleet comprises 143 vessels of more than 10 million tonnes (dwt) in total; Its current shipbuilding portfolio includes 19 ships of an aggregate deadweight of 1.7 million tonnes (dwt);

• The average age of vessels in the tanker fleet is six years (the world average age is 12 years);
• SCF Group is a world leader in the product carrier segment; it is the second largest in the Aframax tanker segment;
• The company owns the largest ice-class fleet, being No.1 in the segment of the Arctic shuttle tankers and ice-classed LNG tankers;
• The Group’s services include not only transporting hydrocarbons for its customers, but also trans-shipping crude oil via FSO facilities, terminal management and developing effective logistics for transporting energy, and providing supply vessels services to drilling rigs and offshore platforms.