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Teekay LNG seals long-term debt facility for its share of six Yamal newbuilds

Teekay LNG seals long-term debt facility for its share of six Yamal newbuilds

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Hamilton, Bermuda-headquartered Teekay LNG Partners on Monday sealed an $816m long-term debt facility so it can finance its share of six part-owned LNG carrier newbuilds.

Teekay LNG, which owns and operates a fleet of LNG carriers, is partnering with China LNG Shipping, in the order for six ARC7 LNG newbuilds. 

The first ship is set for delivery in January next year with the rest staggered through to early 2020.

These newbuilds are intended for the Yamal LNG project at the port of Sabetta in the Yamal Peninsula in northern Russia.

Yamal LNG has already started producing from its first train and has completed its first LNG cargo loading.

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Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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