MOL places order for Arctic LNG 2 tanker in China

Japanese shipping giant MOL said it has ordered a new ice-breaking tanker that will serve the Novatek-operated Arctic LNG 2 project in Russia.

MOL said in a statement on Wednesday that its unit placed the order at China’s Guangzhou Shipyard International (GSI), a part of CSSC, and signed a charter deal with the LNG project company, whose largest shareholder is Novatek.

The Chinese yard will deliver the ARC7 newbuild in 2024, MOL said without revealing the price tag of the contract.

MOL said this contract follows the October 2020 signing of charter contracts for three ice-breaking LNG carriers to serve for the same project.

However, this new 214 meters long vessel with a cargo capacity of 54,800 cbm will transport condensate from the LNG/condensate plant inside the Arctic Circle on the Gydan peninsula, mainly to Europe via the Northern Sea Route.

MOL has operated three ice-breaking LNG carriers on the NSR for Novatek’s Yamal LNG project since March 2018.

In addition, three ice-breaking LNG carriers for the Arctic LNG 2 project will go into service in 2023.

The Arctic 2 LNG project located on the Gydan peninsula includes the construction of three LNG trains with a capacity of 6.6 mtpa, each, using gravity-based structure platforms.

Novatek expects to launch the first LNG train in 2023, with trains 2 and 3 to follow in 2024 and 2025, respectively.

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