Seapeak confirms order for LNG carrier quintet in South Korea

Seapeak, previously known as Teekay LNG Partners, confirmed that it had placed an order for five 174,000-cbm LNG carriers at South Korea’s Samsung Heavy Industries.

The shipbuilder revealed an order worth about 1.45 trillion won ($1.08 billion) on Wednesday for five LNG carries with an unidentified owner in Oceania.

Shipbuilding sources told LNG Prime that Seapeak was behind the order and that the LNG carriers would go on charter to US energy giant ExxonMobil.

Following the SHI announcement, Seapeak said in a statement it entered into shipbuilding contracts for the construction of five, 174,000-cubic meter M-type, Electronically Controlled, Gas Admission (or MEGA) propulsion LNG carrier newbuildings with the shipbuilder.

Seapeak said it would take delivery of the LNG carriers worth about $1.1 billion in 2027.

Upon their deliveries, the five LNG carriers would each operate under a fixed-rate time-charter contract with an “international energy major” for a firm period of ten years, each of which can be extended at the option of the charterer, the firm said.

Seapeak did not name the charterer.

The firm expects to finance the initial newbuilding construction instalment payments by way of an equity contribution from investment funds managed by its sponsor, Stonepeak.

In due course, Seapeak expects to secure long-term debt funding to finance the remaining construction costs, it said.

The shipping firm has interests in 46 LNG carriers and is one of the world’s largest operators of such vessels. It also operates 20 midsize LPG carriers and six multigas carriers.

Seapeak recently also agreed to buy Evergas in an all-cash transaction with a value of about $700 million.

- Advertisements -

Most Popular

ConocoPhillips books capacity at Zeebrugge LNG terminal in Belgium

US energy giant ConocoPhillips has signed a deal to book long-term capacity at the Fluxys-operated Zeebrugge LNG import terminal...

Tellurian updates on Driftwood LNG work

US LNG terminal developer Tellurian, which is being acquired by Australia's Woodside, released the latest construction update for the...

NextDecade names new COO

US LNG firm NextDecade, the developer of the Rio Grande LNG export project in Texas, has appointed Tarik Skeik...

More News Like This

Golden Pass LNG to ramp up construction activities after Zachry deal

QatarEnergy and ExxonMobil will ramp up construction activities at the Golden Pass LNG export terminal in Texas after a...

Yamal LNG cargo delivered to China via NSR

Russian LNG exporter Novatek has delivered this year's first Yamal LNG cargo via the eastern part of the Northern...

GTT scores tank gig for Canadian FLNG

French LNG containment giant GTT has secured a tank design order from South Korean shipbuilder Samsung Heavy for one...

Adnoc L&S orders eight LNG carriers in South Korea

Adnoc Logistics & Services, a unit of UAE's energy giant Adnoc, has ordered eight liquefied natural gas (LNG) carriers...