Novatek Sets Up Arctic-focused Shipbuilding Unit as Russia Grapples With Ice-Class Fleet Shortage

Russia’s largest independent gas producer Novatek has registered a new shipbuilding and engineering subsidiary, as the country seeks to ease a shortage of ice-capable vessels critical to its Arctic LNG ambitions, Russian media reported.

The new entity, named Severny Inzhiniring (translated as “Northern Engineering”), was registered in Moscow in late March 2026, according to Russia’s corporate registry and media reports.

The company will focus on the construction of ships and floating structures, as well as broader engineering activities, the reports said. ?

Novatek owns 100% of the new subsidiary, which is fully consolidated within the group. Ilya Lushchikov, previously linked to