LNG

Zvezda Shipbuilding in the Russian Far East has started steel-cutting for its latest Arc7 ice-class LNG carrier to serve the increasing Arctic LNG production plans being developed by natural gas company Novatek.

Teekay LNG Partners reported a jump in net income in the third quarter as the shipping company prepared for a December vote on a deal worth $6.2 billion to become the latest LNG fleet to be taken over by, or merged with, US equity fund interests.