Novatek, the largest independent natural gas producer in Russia, has announced that it will be expanding its fleet of gas carriers to 65 vessels by 2026, four times its current fleet size.
The announcement was made on the final day of the Saint-Petersburg International Economic Forum (SPIEF).
Yevgeny Ambrosov, Novatek’s director of maritime operations, shipping and logistics, commented: “In terms of number, the fleet of Qatar is probably larger, but in terms of value, sophistication and capabilities, Novatek’s fleet will be the most powerful one”.
Ambrosov added that the bulk of the new vessels will be built in Russia. The Zvezda Shipbuilding Complex at Bolshoy Kamen will be a major beneficiary of the fleet expansion plans.
Novatek entered the global LNG market in 2017 by successfully launching the Yamal LNG project. The export terminal is based in Russia’s Yamal-Nenets Autonomous Region which currently accounts for 15% of the world’s gas production.