Novatec established a shipbuilding division due to oil tanker shortages

LootboxPhobia · 2026-04-06T17:36:19+00:00

Russian liquefied natural gas producer Novatek has established a new company, Severny Inzhiniring, focused on building ships and floating facilities for LNG transportation. The company will construct 15 Arc7 ice-class oil tankers at the Zvezda shipyard to address the vessel shortage caused by sanctions.

LootboxPhobia

2026-04-06 17:36:19

Abstract generation in progress

Investing.com – Based on information from the Companies Registry authorized by the country, Russian LNG producer Novatek has set up a new company to build vessels and floating facilities, after sanctions led to a shortage of LNG tankers.

The company, named Severny Inzhiniring (Northern Engineering), was incorporated on March 25. Ilya Lushchikov will lead this new entity; he also oversees Novatek’s Murmansk LNG project.

Western sanctions implemented in 2022 restrict Russia’s access to ice-class tankers needed to transport LNG cargo.

Russia’s most advanced shipyard, Zvezda, specializes in building large Arc7 ice-class tankers, which are capable of breaking through ice layers up to 2 meters thick. The shipyard has delivered an Arc-7級 tanker to Novatek’s Arctic LNG 2 project.

Novatek holds a 60% stake in the Arctic LNG 2 project. The company said it will build 15 Arc7 ice-class tankers at the Zvezda shipyard.

This article was translated with the assistance of AI. For more information, please see our Terms of Use.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.