Hanwha Ocean constructed LNG carriers for Novatek's Arctic LNG 2 project, but deliveries were stalled due to sanctions.
3 reports, 2 independent
Updated Sep 8
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New informationRepeats or wire copies
AI-generated analysis. Brind wrote this summary from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
Hanwha Ocean constructed LNG carriers for Novatek's Arctic LNG 2 project, but deliveries were stalled due to sanctions.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Arctic LNG 2 filed an arbitration claim against Hanwha Ocean.Sub-event
Novatek claims damages from Hanwha Ocean over the Arc7 tankers built for Arctic LNG 2.1 source
Sanctions related to the Ukraine invasion have stalled the delivery of LNG carriers built for Novatek.1 source
Hanwha Ocean supplied vessels to Japanese and Russian firms while Arctic LNG 2 project faces sanctions.1 source
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The entities involved
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Hanwha Ocean
shipbuilder of South Korea
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Sovcomflot
Russian company
Nothing else this week.
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Novatek
Russian natural gas producer
Related events
- Russian Arctic LNG development continues, with Sovcomflot operating vessels, but sanctions prevent Hanwha Ocean from delivering to projects.
- Hanwha Ocean secured a contract with Yang Ming Marine Transport for six 13,000 TEU class LNG dual-fuel container vessels.
- Novatek develops Yamal LNG liquefaction plant and ships cargoes to EU seaports, while Arctic LNG 2 cargoes shift to China.
- Hanwha Ocean and Korean Register are jointly developing concepts for LNG bunkering vessels.
- Sanctions resulting from the invasion of Ukraine are impacting the Arctic LNG 2 project, requiring specialized vessels and causing delays at shipyards.