Novatek said on Wednesday Arctic LNG 2 has entered into long-term charter agreements on six Arc7 ice-class LNG tankers, three with Sovcomflot and three with Mitsui O.S.K., Kallanish Energy reports.

The new vessels will be built in Korea by Daewoo Shipbuilding & Marine Engineering (DSME), with Sovcomflot estimating deliveries in 2023. In a separate statement, Sovcomflot said the three 30-year charter agreement with Arctic LNG 2 has an estimated total contract value of $4.2 billion.

The Novatek-led project has successfully completed chartering of ice-class tanker fleet it requires, having already closed deals on 15 similar LNG carriers to be built at the Zvezda shipyard in Russia.

Arctic LNG 2 will have capacity to produce 19.8 million tonnes per annum (Mtpa) of LNG and 1.6 Mtpa of gas condensate. The project is operated by Novatek with a 60% stake, in partnership with Total (10%), CNPC (10%), CNOOC (10%) and the consortium of Mitsui and JOGMEC (10%).

This post appeared first on Kallanish Energy News.