Russian gas producer Novatek could order up to 47 LNG carriers for its Arctic projects before 2030.

The ships would cost a total of $14.1bn, based on the price of the first Arc7 vessels contracted for its huge Arctic LNG 2 project in the country's far east.

Novatek chairman Leonid Mikhelson said the company has received government permission to order 10 vessels outside Russia, in addition to between 35 and 37 units that may be contracted at the domestic Zvezda shipyard.

He told the Itar-Tass news agency: "We received a positive response.

"Due to increased design capacity of Yamal LNG and commissioning of Obsky LNG for five vessels, in March [lender] VEB will sign with Zvezda for 15 gas carriers. we should receive them in 2023-2025."

"We need 10 more, which will be placed at foreign shipyards. Before entering the first stage, we will accept an investment decision on the next project before 2030. Another 15 to 17 tankers will be stationed at Zvezda."

Newbuilding target raised

Novatek had previously said it would need up to 17 vessels, before then drawing up the plans for the 10 units overseas.

The vessels have been priced at $300m each. Novatek fears the new Zvezda yard will not be able to build them fast enough for use from 2023 and 2024.

Novatek has had 15 slots for LNG carriers reserved at Zvezda.

The list of potential overseas yards include South Korea's Hyundai Heavy Industries, DSME and Samsung Heavy Industries, plus Hudong-Zhonghua Shipbuilding in China.

Samsung Heavy Industries firmed up an order in 2019 for five Arc7 ships for Novatek in cooperation with Zvezda.

“Construction of an additional fleet with this deadline can only be done at foreign shipyards,” Mikhelson wrote to Russian president Vladimir Putin last year.

He argued that, taking into account US and Qatari plans to order LNG carriers, the orders should be placed as soon as possible.

Russian owner Sovcomflot ordered the first ship in the Arctic LNG 2 series last year at Zvezda.