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Novatek, a Russian LNG producer, has established a company to build ships

According to the registry of authorized companies, Russia's largest producer of liquefied gas, Novatek, has set up a firm to build its own vessels and floating facilities. This is due to a shortage in gas tankers caused by sanctions.

Ilya Luschchikov, the?head of Novatek’s Murmansk LNG Project, is responsible for the?new company, Severny Inzhiniring or?Northern Engineering. According to the registry, it was established on March 25.

Novatek didn't?reply a?"request for comments.

The Western sanctions that were imposed on Russia in 2022 severely limited the number of tankers capable of transporting LNG cargoes.

Zvezda is Russia's leading shipbuilder. They specialize in building large Arc7 ice class tankers that can break through ice up to 2 metres thick.

Novatek, the company that owns 60% of Arctic LNG 2, has said 15 Arc7 tankers of the ice class will be built at the Zvezda Shipyard. (Reporting and writing by Oksana Kobieva, editing by Susan Fenton; written by Vladimir Soldatkin)

(source: Reuters)