Arctic LNG 2 Seeks $1B from Hanwha
Russia's Arctic LNG 2 project has filed a one billion dollar arbitration claim against South Korea's Hanwha Ocean following the cancellation of tanker construction contracts.
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Arctic LNG 2 filed a $1.02 billion damages claim against Hanwha Ocean in Singapore over cancelled tanker construction contracts, according to a regulatory disclosure. The dispute stems from severed deals for Arctic LNG 2, a liquefied natural gas project in Russia designed to produce 19.8 million metric tons annually. Western restrictions tied to the conflict in Ukraine have snarled the venture's export ambitions.
