Arctic LNG 2 halts output amid sanctions and shortage of ice-class carriers

Novatek has suspended production at its Arctic LNG 2 project because of sanctions and a shortage of gas tankers, two sources told Reuters, as reported by gCaptain on 2 April. The halt is expected to last until at least the end of June. Novatek planned for 15 Arc7 ice-class carriers to be built at Russia's Zvezda yard and six more at Hanwha Ocean, but three tankers ordered by Sovcomflot were cancelled because of sanctions. Only three suitable vessels have been completed: Alexei Kosygin, Pyotr Stolypin and Sergei Witte. Output fell from 425 million cubic metres in December to 83 million in February. Deputy Prime Minister Alexander Novak said: 'Their main problem is with the tankers.'

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