The largest Russian producer of liquefied natural gas, Novatek, has announced the establishment of a new enterprise that will focus on constructing its own vessels and floating objects for transporting LNG.
This is reported by Finway
Creation of the Company “Severny Engineering”
According to the Russian registry, the new company named “Severny Engineering” was registered on March 25. Ilya Lushchikov has been appointed as the head, who also leads the procurement department for Novatek’s LNG plant and simultaneously manages the “Murmansk-LNG” project.
Issues with Tankers Due to Sanctions
Following the imposition of Western sanctions in 2022, the Russian Federation has been significantly restricted in its access to ice-class tankers necessary for transporting liquefied gas. The modern Russian shipbuilder “Zvezda,” which specializes in constructing large Arc7 ice-class tankers, has managed to deliver only one such vessel for Novatek’s “Arctic-LNG-2” plant.
According to the company’s plans, Novatek owns 60% of the “Arctic LNG-2” project and intends to receive an additional 15 Arc7 ice-class tankers from the “Zvezda” shipyard in the future.
“The Western sanctions imposed in 2022 have significantly limited Russia’s access to ice-class tankers for transporting LNG cargoes.”