Home Telecommunication Rocket and Space Corporation Energia and Boeing will settle the dispute “Sea...

Rocket and Space Corporation Energia and Boeing will settle the dispute “Sea Launch” before the end of the year

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Russian Space Corporation and the US company Boeing have reached an agreement in the dispute about the project “Sea Launch”.

Russian Rocket and Space Corporation (RSC) Energia named after S.P. Korolev and American aircraft manufacturer Boeing have reached the agreement that should settle the dispute over the “Sea Launch” project before the end of 2016. Izvestia have written this referring to Vladimir Solntsev, the general director of RSC Energia.

In 2015, the US District Court for the Central District of California has taken a decision to recover multi-million dollar compensation for the benefit of Boeing’s from its former partners in the “Sea Launch” project, including Energia company. This decision followed the bankruptcy of the project. At the same time, Energia company and another project member the Ukrainian company Iuzhnoe stated that Boeing has given verbal assurances to the partners that they will not claim any losses reimbursement.

“We signed a preliminary agreement with Boeing on the settlement of the dispute over the “Sea Launch” project to suspend the US Supreme Court’s activities aimed at the collection of debts. By the end of this year, we plan to sign a final agreement with the Boeing Company that shall determine the conditions of full settlement (of the dispute)” – stated Solntsev according to the Russian newspaper Izvestia.

He added that Energia company and Boeing have developed a long-term cooperation program that includes development the projects on the deep space exploration.

Sea Launch project was established in 1995 as a consortium formed by four companies from the United States, Norway, Ukraine and Russia under the control of the US aerospace giant Boeing. The project stipulated the use of a floating site making it possible to launch a missile at the equator – the best possible geographical point for launches giving the rocket an extra speed on takeoff due to centrifugal force caused by rotation of the Earth around its axis.

In 2011, “Sea Launch” project’s activity was recommenced after a 30-month break caused by the bankruptcy proceedings under Chapter 11 of the US Bankruptcy Code. Currently, 95 % of the project’s shares are owned by Energia Overseas Limited, a branch of RSC “Energia”.

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