40279

United Arab Emirates

United Arab Emirates, Dubai, Dubai Silicon Oasis, Ifza Business Park, DDP, building A1, unit 40279-001

The UAE-based company manages four LNG carriers, ‘North Mountain’, ‘North Way’, ‘North Air’ and ‘North Sky’, which are involved in the transshipment of LNG from russia's ‘Yamal LNG’ project, despite the fact that they were originally intended for use in the ‘Arctic LNG 2’ project. The ‘Arctic LNG 2’ and ‘Yamal LNG’ projects are two large-capacity LNG projects of the sanctioned PJSC Novatek (TIN: 6316031581). ‘North Mountain’, ‘North Way’, ‘North Air’, ‘North Sky’ are ice-class tankers that received permission from the russian authorities to sail in the waters of the Northern Sea Route in the summer of 2024. It is likely that these are the same vessels that were originally ordered by the Japanese shipping company NYK Lines in cooperation with the sanctioned russian PJSC Sovcomflot, the largest state-owned shipping company in russia, a key company for servicing and supporting offshore hydrocarbon production, transportation of russian oil, oil products, liquefied natural gas amid sanctions restrictions on russia after its full-scale invasion of Ukraine.
These vessels were subsequently transferred to Dubai-based White Fox Ship Management.
The transshipment of LNG by vessels with hidden ownership helps russia to circumvent sanctions imposed on the energy sector of the russian federation.