Russia's Sovcomflot has agreed an Arctic LNG shipping joint venture with Chinese state giant Cosco Shipping.

Domestic gas producer Novatek and China's Silk Road Fund are also involved as stakeholders in Maritime Arctic Transport (MArT).

The company will manage the icebreaking gas carrier fleet of new and existing vessels for Novatek's LNG projects Yamal LNG, Arctic LNG 2 and others.