Novatek, Sovcomflot form LNG shipping JV

Novatek and Sovcomflot have established a joint venture company that will focus on managing the construction and operations of Arctic ice-class LNG carriers.

The new company will undertake transportation of LNG from Novatek’s future projects in the Russian Arctic region, including the Arctic LNG II project.

Leonid Mikhelson, Novatek’s chairman of the management board, said that the LNG will be transported via the Northern Sea Route to major global markets, including the Asia-Pacific region.

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