Hanwha Ocean faces a $1 billion arbitration claim from Arctic LNG 2 over alleged Step In Agreements breaches linked to terminated shipbuilding contracts.
Sanctioned heavy-lift vessels Glory Ocean and Bright Ocean have delivered TMR-001 and TMR-002 modules to Novatek’s Belokamenka yard for the Arctic LNG 2 project.
TotalEnergies has received Russian approval to sell its 10% stake in Arctic LNG 2 to NordLine LLC, enabling an exit from the U.S.-sanctioned Russian LNG export project.
Russia has closed its 2025 Northern Sea Route season after exporting nearly 3 million tonnes of LNG to Asia during the summer and autumn shipping window.
The European Union has lifted sanctions on Red Box Energy Services’ Polar Class heavy-lift vessels Audax and Pugnax, previously tied to Russian Arctic LNG construction, gCaptain reported.
