Novatek

Novatek is Russia's largest independent natural gas producer, founded in 1994 and headquartered in Moscow. Its two flagship LNG facilities, Yamal LNG (16.5 mtpa) and Arctic LNG 2 (planned 19.8 mtpa), together account for a significant share of Russia's LNG export capacity. Novatek operates a fleet of Arc7 ICE-class carriers designed to navigate the Northern Sea Route independently of third-country infrastructure.

Novatek's shadow fleet faced direct military risk in March 2026 when the sanctioned LNG tanker Arctic Metagaz, carrying cargo from Arctic LNG 2, was destroyed off the Libyan coast in the first confirmed sinking of an LNG tanker in modern conflict. Attribution remained contested between TASS and Ukrainian sources. The incident extended the documented operational risk of Novatek's shadow export routes well beyond the Black Sea.

Novatek's Arctic LNG 2 sits at the centre of the EU's 20th sanctions package debate, which would block European dry-dock servicing of Arc7 ICE-class carriers; six vessels are due European yards in summer 2026 and were last serviced there in 2023. Russia delivered its first domestically assembled Arc7 carrier, the Alexey Kosygin, in January 2026, signalling domestic replacement capacity is building but not yet proven at scale. The EU's short-term Russian LNG spot ban (25 April 2026) did not resolve the Arc7 carve-out, leaving Novatek's European logistics in a legal grey zone until the 20th package clears the Council.