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Novatek secures FSU financing from Gazprombank

Russian gas producer Novatek has secured a loan of EUR522m with a period of 16 years from Gazprombank to finance the construction of two floating gas storage facilities.

The 361,600 cu m FSUs will be built at an Asian yard, and will be deployed at Novatek’s Kamchatka and Murmansk Region projects in the Far East and used for year-round transshipment of LNG from the Arctic-ice class gas carriers onto conventional vessels.

The construction of the vessels will take three years.

Novatek is currently developing its largest gas project – Arctic LNG 2. Earlier this month, Smart LNG, the shipping joint venture between Sovcomflot (SCF) and Novatek, signed contracts with Zvezda Shipbuilding Complex to construct ten icebreaking Arc7 LNG carriers.

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Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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