Arctic LNG 2 files $1B arbitration claim against Hanwha Ocean

Arctic LNG 2, the NOVATEK-led project, has initiated SIAC arbitration against South Korea's Hanwha Ocean seeking $1 billion in damages, likely related to construction or delivery disputes. The claim adds financial and legal pressure on a project already constrained by Western sanctions, potentially affecting LNG supply timelines. The specific grounds for the claim are not disclosed, and the outcome remains uncertain.