Russian gas giant Novatek is forming a shipping subsidiary to handle its Arctic LNG operations.
The company said it had decided to establish Maritime Arctic Transport to manage and optimise transportation costs.
It wants to "build up the unique competencies of Arctic navigation and ensure centralised management of the Arctic fleet," it said.
Chairman Leonid Mikhelson added that the group's long-term development strategy envisages a significant growth in LNG production from the company’s vast hydrocarbon resource base located on the Yamal and Gydan peninsulas in the Arctic zone of more than 55m tons per year by 2030.
