Novatek Forms Shipbuilding Firm to Secure LNG Tankers
Novatek has formed a shipbuilding unit to construct its own vessels. The move addresses a shortage of ice-class tankers for Arctic projects due to sanctions.
The largest producer of liquefied Natural Gas in Russia, NOVATEK PJSC, has established a new subsidiary to build its own maritime vessels and floating facilities. This strategic development follows a persistent shortage of specialized gas tankers driven by international sanctions.
According to the national registry of authorized companies, the new entity is named Severny Inzhiniring, or Northern Engineering, and was officially formed on March 25. The company is being led by Ilya Lushchikov, who also oversees the Murmansk LNG project for Novatek. The firm did not immediately respond to requests for comment regarding the new venture.
The move to internalize shipbuilding comes after sanctions introduced in 2022 limited the availability of ice-class tankers. These specialized ships are required to transport energy cargos through frozen northern waters. While ZVEZDA PJSC is the nation's primary builder of Arc7 ice-class tankers—which are designed to break through ice up to two meters thick—the shipyard has delivered only one such vessel for the Arctic LNG 2 plant to date.
Novatek, which maintains a 60% stake in the Arctic LNG 2 project, previously indicated that a total of 15 Arc7 tankers were expected to be constructed at the Zvezda shipyard. The launch of Northern Engineering indicates an effort to mitigate logistical bottlenecks as the company seeks to expand its export capabilities despite external pressures.
