Sanctions Complicate Arctic LNG Ship Sales, Hanwha Ocean Says
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Shipbuilder Hanwha Ocean Co. is facing difficulties in finding new buyers for specialized vessels built to serve a Russian liquefied natural gas facility that’s now subject to sanctions.
The icebreaker ships were ordered in 2020 and are intended for use at the Novatek PJSC-led Arctic LNG 2 export plant above the Arctic circle, but the contract was later terminated following Russia’s invasion of Ukraine.