Tuesday, January 26, 2010

Panalpina opens office in Murmansk

Expansion To Exploit Oil Opportunities
Shipping News Feature

RUSSIA -  Swiss-based logistics provider Panalpina is opening an office in the Russian city of Murmansk, located close to the country’s borders with Norway and Finland. The company has been focusing on this area for many years, primarily because of Shtokman Gas Field Development.

Being the world’s largest natural gas field, Shtokman was discovered in 1988, and since 1992 Sevmorneftegaz, a joint venture of Russian energy companies Gazprom and Rosneft, has been holding the license to operate the field. The field’s reserves are estimated at 3.8 trillion cubic meters of natural gas and more than 37 million tons of gas condensate.

The field is of strategic importance for Gazprom and will become a resource base for Russian pipeline gas as well as liquefied natural gas exports to the Atlantic Basin markets. The shareholders (Russia’s Gazprom – 51%, France’s TOTAL – 25%, Norway’s StatoilHydro – 24%) sanctioned a multi-billion development program. The field will be developed by Shtokman Development AG.

As a global leader in the Oil & Gas logistics market, Panalpina will concentrate on provision of services to the leading international and Russian companies that will include seismic companies, drilling contractors, supply and support vessel operators, oilfield service and supply companies, engineering companies and off-shore construction companies.

Located on the Kola Peninsula, in close proximity to Shtokman Field, and being the major hub for international air and ocean traffic, Murmansk is the ideal location for Panalpina to develop its logistics infrastructure.

"We are confident that with our strong market position in air and ocean freight combined with a focused approach to logistics and supply chain management solutions and extensive local knowledge, Panalpina will establish itself as the leading player in this strategic area," says Stefan Karlen, Managing Director of Panalpina Russia.