NOVATEK’s Arctic transshipment sanctioned by the U.S.

September 14 2023

Floating LNG storage facilities were also sanctioned

According to the website of the U.S. Department of the Treasury, the sanctions imposed on Arctic Transshipment LLC (subsidiary of NOVATEK PJSC) and two large-capacity floating storage facilities – Saam FGS and Koryak FGS.

The document clarifies that the Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed about 100 sanctions on Russian individuals and legal entities, including industrial enterprises and financial organizations on September 14. The Department of State also added more than 70 people to the list.

OFAC included Transmashholding JSC, the largest Russian manufacturer of rolling stock, Turkish Denkar Ship Construction and ID Ship Agency Trade Limited to the list. The sanctions were also imposed against Arctic Energies LLC (resident of the “Capital of the Arctic” ASEZ) and Arcticgeo LLC (Indiga port project in the Nenets Autonomous District).

Arctic Transshipment company received the status of a resident of Kamchatka ASEZ and, by agreement with the Far East and Arctic Development Corporation (FEAD), will invest about 6 billion rubles in a sea transshipment complex in the Bechevinskaya Bay. The terminal will have a floating gas storage with capacity of 360 thousand cubic meters, the LNG transshipment capacity of the terminal will be 20 million tons per year. The company expects to commission the Kamchatka complex at the end of 2023.

Arctic Transshipment has also received the status of resident of the “Capital of the Arctic” ASEZ. The company will invest more than 2.4 billion rubles in the Murmansk sea transshipment complex in the waters of the Barents Sea.




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