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RSC Energia: Sea Launch deal is completed

April 17, 2018

Today, April 17, the deal by the Energia group to sell the assets of the Sea Launch project to S7 Group has been completed.

A preliminary agreement to sell the Sea Launch system was signed in late 2016 at the International Astronautical Congress in Guadalajara, Mexico. The agreement establishing the final terms of the deal was concluded in December of the same year.

The subjects of the transaction are the ship Sea Launch Commander and the platform Odyssey with their installed rocket segment equipment, the ground support equipment at the Home Port of Long Beach (USA) and the Sea Launch trademark.

To complete the agreement, approvals had to be obtained from govenmental agencies of Russian and the USA. In addition to this, several agreements had to be signed between organizations participating in the project about settlement of certain obligations between them. At present, all these conditions are met.

This made it possible to complete the deal and make the appropriate entries in the Ship Registry about the transfer of rights of ownership of the ships to the buyers, as well as sign acts of transfer and acceptance certifying the transfer of the equipment to the buyers. The final settlement of accounts with the sellers has been completed.

In accordance with the agreement RSC Energia will continue its participation in the Sea Launch project as the supplier of components and will provide assistance to the S7 Group with operation and maintenance of the system.

It is also planned that Energia will perform the research and development work to adapt the medium launch vehicle Soyuz-5 to launches from the Sea Launch system.

RSC Energia is the leader in the rocket and space industry, and the prime contractor for manned space systems. The Corporation conducts work on the development of unmanned space and rocket systems (launch vehicles and orbital transfer vehicles), and high-technology systems for various non-space applications. Since August 2014, the Corporation is headed by Vladimir Solntsev.

ROSCOSMOS is a State Corporation established in August of 2015 in order to conduct a comprehensive reform of the rocket and space industry in Russia. State Corporation Roscosmos assures implementation of the Government policies in the field of space activities and provides for them a legal and regulatory framework, as well as places orders for the development, production and delivery of space hardware and space infrastructure facilities. The functions of the State Corporation also include development of international cooperation in space, and creating conditions for using results of space activities in social and economic development of Russia.

 

 

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