LNG

Russia's largest LNG producer Novatek has reported a sharp 63% drop in net profit, citing lower commodity prices, Western sanctions, and operational disruptions at its Ust-Luga terminal following a Ukrainian drone attack. 2025 net profits fell to 183 billion roubles ($2.37 billion), down from 493 billion roubles in the previous year.

Sovcomflot's newly built Arc7 ice-class LNG carrier Alexey Kosygin has completed its first commercial voyage, delivering an LNG cargo from Novatek’s Arctic LNG 2 terminal to a floating storage unit (FSU) off Murmansk.

Russia's first open sea ship-to-ship LNG transfer is becoming a blueprint for how companies close to the Kremlin can circumvent Western sanctions. Tanker ‘Perle’ carried out the transfer off Malaysia ten days ago, and analysts reckon similar transfers are planned as Russia seeks to redirect LNG cargoes from Europe to Asia in 2026.

Novatek, the Russian natural gas company and operator of the Yamal LNG export plant in northern Siberia, has completed the sale of participating interests in its Arctic LNG II project in the Gydan Peninsula to Japanese and Chinese investors.

Novatek, the Russian natural company and owner of the Yamal LNG export plant in northern Siberia, has formally ended its re-loading activities offshore the Norwegian port of Honningsvag that saw several million tonnes of LNG transferred from Ice-class carriers to conventional vessels and shipped to European terminals and beyond.

French energy major Total has signed agreements with Russian natural gas company Novatek, operator of the Yamal LNG export plant, for the acquisition of a direct 10 percent stake in the Arctic LNG II joint venture proposed by Novatek for Russia’s Gydan Peninsula.