Sea Launch was formed in 1995 to take advantage of the extra launch capability afforded by using an oceangoing platform at the equator. Originally set up by Boeing with partners from Russia, Ukraine and Norway, it converted a fire-damaged oil rig into the Odyssey launch platform and outfitted a roll-on/roll-off freighter as the Sea Launch Commander, with launch control and rocket storage facilities on board.

In its bankruptcy reorganization, Energia Overseas Ltd., a subsidiary of the Russian aerospace enterprise, took a 95% interest in Sea Launch. Energia Logistics, a U.S. affiliate of Energia, was set up to run rocket assemblies and integrations at Sea Launch’s Long Beach, Calif., facility. The first two rocket stages are built by Ukraine’s Yuzhnoye and Yuzhmash, and Boeing—while relinquishing its position as the main shareholder—continues to provide fairings and launch support.