EventArctic LNG 2, led by Novatek, filed a 1.37 trillion‑won ($1.02 billion) claim with the Singapore International Arbitration Centre on Sept. 3, 2026 against South Korean shipbuilder Hanwha Ocean. The dispute stems from Hanwha’s cancellation of three Arc7 LNG carriers originally ordered by Sovcomflot and Mitsui O.S.K. Lines due to U.S. sanctions, threatening the project’s supply chain.
Arctic LNG 2 has filed a $1.02 billion arbitration claim with the Singapore International Arbitration Centre against South Korean shipbuilder Han Wha Ocean over cancelled LNG‑carrier contracts, a dispute tied to U.S. sanctions that halted three Arc7 tankers for Sovcomflot.
Arctic LNG 2, a liquefied natural gas development headed by Russia's Novatek, has filed a claim for roughly $1 billion in damages against South Korean firm Hanwha.
Arctic LNG 2, a Novatek‑majority project, has sued South Korea’s Hanwha for $1 billion in damages, a move that could impact the timeline and financing of Russia’s largest planned LNG plant.
Novatek is seeking about $1 billion in damages from South Korean shipbuilder Hanwha Ocean for cancelled Arc7 tanker contracts, a claim filed with the Singapore International Arbitration Centre following sanctions that halted the vessels’ construction.
Arctic LNG 2, led by Novatek, has filed a claim for about $1.02 billion against South Korean shipbuilder Hanwha Ocean over the cancellation of six Arc7 LNG carriers, a dispute that stems from U.S. sanctions that halted the construction of three tankers for Sovcomflot.
Arctic LNG 2 project led by Novatek is seeking roughly $1 billion in damages from South Korean shipbuilder Hanwha.
Arctic LNG 2, a liquefied natural gas project run by Novatek, has filed a claim for roughly $1 billion in damages against South Korean firm Hanwha.
Arctic LNG 2 has filed a $1 billion damages claim against South Korean company Hanwha, highlighting legal disputes that could impact future investment and supply arrangements for the Russian Arctic LNG project.
South Korean shipbuilder Hanwha Ocean is confronting a KRW 1.37 trillion ($1 bn) damages claim from Russia’s sanctioned Arctic LNG 2 liquefaction plant operator.
Arctic LNG 2, led by Novatek, is pursuing roughly $1 billion in damages from South Korean shipbuilder Hanwha Ocean after the shipbuilder terminated its LNG carrier orders. The lawsuit could affect the project’s timelines and financial viability.
