New LNG Storage Hub to Hasten Russian Gas Delivery to Europe

Novatek’s first floating transfer hub for liquefied natural gas, Saam FSU, has arrived in the narrow inlet of Ura Guba in the Russian Arctic after a four-month journey under tow from Okpo, South Korea.
The barge will optimize the export of Russian LNG to Europe. The company ordered the $748 million barge three years ago from the South Korean shipyard DSME, High North News reported.
A second barge, Koryak FSU, will take up position off the coast of Kamchatka in the Far East later this year. The barges are more than twice the size of the large Arc7 LNG tankers, allowing it to temporarily store LNG before it is reloaded onto non-ice capable gas carriers. 
The goal of this logistics network is to shorten the distance that specialized ice-capable LNG carriers need to travel. Instead of delivering their cargo all the way to Europe or Asia, the vessels will now be able to turn around just outside ice-covered waters near Murmansk and Kamchatka. 
This process allows for significant time savings. Currently, Arc7 carriers have to travel 2,500-3,200 nautical miles from Sabetta to European ports. With the FSU in place, the roundtrip distance is shortened to around 1,000 miles, taking just six days.