Finance
Russian Lng Producer Novatek Sets up Company to Build Vessels
Published by Global Banking & Finance Review®
Posted on April 6, 2026
2 min readLast updated: April 6, 2026
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Novatek has established Severny Inzhiniring on March 25 to build its own LNG vessels amid a shortage of ice-class tankers due to Western sanctions. The move addresses delays and reliance on Zvezda, which has delivered only one Arc7 vessel so far.
Novatek Launches Severny Inzhiniring to Build LNG Vessels Amid Tanker Shortage
Novatek's Strategic Response to LNG Tanker Shortages
Establishment of Severny Inzhiniring
MOSCOW, April 6 (Reuters) - Russia's largest producer of liquefied natural gas Novatek has set up a company to build its own vessels and floating facilities, according to the state's registry of authorised companies, amid a shortage of gas tankers due to sanctions.
Ilya Lushchikov, who is also head of Novatek's Murmansk LNG project, is in charge of the new company, called Severny Inzhiniring, or Northern Engineering, which was set up on March 25, according to the registry.
Novatek did not reply to a request for comment.
Impact of Western Sanctions on LNG Transport
Western sanctions imposed in 2022 significantly limited the availability for Russia of ice-class tankers to transport LNG cargos.
Role of Zvezda Shipyard
Zvezda, Russia's most advanced shipbuilder, specializing in constructing large Arc7 ice-class tankers capable of breaking through ice up to two metres (6.6 feet) thick, has so far only delivered one Arc-7 class tanker for Novatek's Arctic LNG 2 plant.
Future Plans for Arctic LNG 2 Project
Novatek, which owns 60% of the Arctic LNG 2 project, has said 15 Arc7 ice-class tankers will be built eventually at the Zvezda shipyard.
(Reporting by Oksana Kobzeva; writing by Vladimir Soldatkin; editing by Susan Fenton)
Key Takeaways
- •Severny Inzhiniring, led by Ilya Lushchikov, was registered on March 25 to oversee vessel and floating facility construction amid tanker shortages due to sanctions (en.wikipedia.org).
- •Western sanctions have disrupted deliveries from South Korean and foreign partners, limiting Novatek’s access to ice-class LNG carriers and delaying shipping capacity for Arctic LNG‑2 (highnorthnews.com).
- •Zvezda shipyard, responsible for 15 Arc7 tankers, has delivered only one domestically built carrier by December 2025, and timelines remain delayed despite workforce enhancements (maritime-executive.com).
References
Frequently Asked Questions about Russian LNG producer Novatek sets up company to build vessels
1Why did Novatek set up a new company to build vessels?
Novatek established Severny Inzhiniring due to a shortage of LNG tankers caused by Western sanctions.
2Who is leading Novatek's new vessel construction company?
Ilya Lushchikov, also head of Murmansk LNG, is in charge of Severny Inzhiniring.
3How many Arc7 ice-class tankers are planned for the Arctic LNG 2 project?
Novatek aims to have 15 Arc7 ice-class tankers built at the Zvezda shipyard.
4What impact did Western sanctions have on Russian LNG transport?
Sanctions limited Russia's access to ice-class LNG tankers, prompting Novatek to build its own vessels.
5When was Severny Inzhiniring founded?
Severny Inzhiniring was set up on March 25 according to the state's registry.
