Novatek Acquires Ice Class Tankers for Arctic LNG

Russian gas producer Novatek has acquired at least two ice class LNG carriers to support its Arctic projects. The move helps address fleet constraints resulting from Western sanctions over the war in Ukraine. The tankers are currently sailing along the Northern Sea Route from South Korea.

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FILE PHOTO: A view shows a board with the logo of Russian natural gas producer Novatek at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo

Russia's top liquefied natural gas producer acquired at least two Arc4 ice-class carriers on Wednesday to bypass western sanctions. The vessels expand the fleet serving Arctic energy projects, according to shipping and registration data. Fleet constraints have previously hindered development for Natural Gas producers in the region.

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