HomeNewsRussian shipyard delays ice-class tankers for Arctic LNG 2

Russian shipyard delays ice-class tankers for Arctic LNG 2

10/30/2024

Russia's Zvezda shipyard is again delaying delivery of ice-class Arc7 gas carriers for liquefied natural gas (LNG) plant Arctic LNG 2 to early 2025, Kommersant daily reported on Wednesday, in yet another blow for the country's huge energy project.

Novatek-led Arctic LNG 2 is already suffering a setback from Western sanctions. It started exports of first LNG cargoes in August, but has still not dispatched it to the end-buyers.

Kommersant said the shipyard was delaying supply of two Arc7 tankers, citing unnamed sources. They said the first tanker could be delivered in early 2025, while the second is expected in the first quarter of next year.

Initially, the first tanker had been due to be delivered in March 2023, while the next four gas carriers were expected to be supplied during September–December 2023.

The deliveries of the first tankers had been subsequently delayed to the end of this year and the second tanker to early 2025, according to Kommersant newspaper.

Novatek and Rosneft, which manages Zvezda, have not immediately responded to requests for comment.

A person familiar with the matter said Friday that Novatek shut down commercial operations at the first and only operational train of its Arctic LNG 2 project earlier this month with no plans to restart it during winter.

The Arctic LNG 2 project, 60%-owned by Novatek, had been set to become one of Russia's largest LNG plants with eventual output of 19.8 metric MMtpy, but its prospects have been clouded by Western sanctions over Russia's conflict with Ukraine and it has struggled to sell the sea-borne gas.

 

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