Teekay LNG Partners announced the completion of an USD816 million long-term debt facility, to finance all six of the 50% owned Arc7 LNG carrier newbuildings, that will serve Yamal LNG project.
The first vessel is scheduled for delivery in January 2018, and the remaining vessels through to early-2020. These newbuildings will serve the Novatek-operated Yamal LNG project under charter contracts with firm charter periods out to 2045, plus option periods.
“Together with our joint venture partner, China LNG Shipping, we are pleased to announce this significant project milestone for our Arc7 LNG carrier newbuildings for the Yamal LNG project, which has successfully commenced producing LNG at the first train and recently completed its first LNG cargo loading,” commented Brody Speers, Chief Financial Officer of Teekay Gas Group Ltd.
With the completion of this ARC7 financing, the Partnership has now completed $2.2 billion in debt financings for their newbuildings in the past 12 months and has financed 14 of its remaining 15 LNG carrier newbuildings, which includes one floating storage unit, he also informed.
Operated by a joint-venture of Novatek (50.1%), French Total (20%), CNPC (20%) and Silk Road Fund (9.9%), the Yamal LNG project consists of construction of an LNG plant with an output capacity of around 16.5 million tons per year, using the South Tambey Field as a resource base.
