The project of LNG exploitation in the area of the Yamal peninsula and the Ob Bay in the Russian Federation combines all the elements of the LNG Value/Supply Chain of LNG exploitation and transport by sea. LNG ARC7 Ice Class vessels, that in many ways surpass common standards in construction and exploitation of LNG vessels, have been designed and constructed specifically for the purposes of this project. Carriage of LNG by ARC7 Ice Class LNG vessels is very demanding, especially in the conditions of polar night and permanent ice of various thickness, and very low atmospheric temperatures. The complexity of the endeavour is particularly emphasized while manoeuvring in the port, transiting narrow approach channels, and while navigating through the area of Northern Sea Route or just part of it, between the Arctic and Russian Continent. Successful and profitable projects of LNG exploitation depend on planned and uninterrupted ex-port of LNG as well as its safe and reliable delivery to the buyers. Therefore, the emphasis of the paper will be the identification of risks for the vessel and the environment as well as measures taken to mitigate the risks to the acceptable minimum.