Teekay LNG Partners Secures USD 816 Mn Loan for LNG Carriers

Owner and operator of liquefied natural gas carriers Teekay LNG Partners has completed a USD 816 million long-term debt facility to finance all six of its 50-percent owned ARC7 LNG carrier newbuildings.

The first vessel from the batch is scheduled to join its owner in January 2018, while the remaining ships would be delivered through to early-2020.

Teekay LNG Partners said that these newbuildings will service the 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,” Brody Speers, Chief Financial Officer of Teekay Gas Group Ltd, said.

“With the long-term financing for all six of our 50-percent owned ARC7 vessels now in place, we look forward to the expected delivery and charter contract commencement of our first ARC7 LNG carrier newbuilding in January 2018,” Speers added.

With the completion of this ARC7 financing, the Partnership has now completed USD 2.2 billion in debt financings for the newbuildings in the past 12 months and has financed 14 of its remaining 15 LNG carrier newbuildings, including one floating storage unit.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

Eastern Mediterranean Offshore Conference and Exhibition (EMC) 2020

EMC 2020 conference will arm delegates with technical and commercial knowledge to capitalise…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >