Trio wraps up financing for two Tangguh LNG carriers

Joint venture companies owned by Sovcomflot, NYK Line, and Samudera have refinanced two LNG carriers serving Indonesia’s Tangguh LNG plant.

The trio signed a $155 million non-recourse credit facility, for up to eight years, with two international banks, namely MUFG Bank and Development Bank of Japan.

Furthermore, the facility will go towards refinancing two 2008-built 145,700-cbm LNG carriers, Tangguh Towuti and Tangguh Batur.

Russia’s Sovcomflot, Japan’s NYK Line, and Samudera of Indonesia jointly own and operate the LNG carrier duo.

The Tangguh LNG plant in Indonesia started exports in 2009 and currently has a capacity of 7.6 million tonnes per year. Most of the production lands in China and South Korea.

Operator BP and its partners are expanding the facility with the addition of a third liquefaction train. The expansion will add 3.8 mtpa capacity to the facility located in Papua Barat Province.

Most Popular

Venture Global’s Plaquemines LNG terminal achieves first production

Venture Global announced on Friday it had reached first LNG production at the company’s second facility, Plaquemines LNG, in...

Swan Energy, Nebula’s AG&P LNG plan Indian JV

Swan Energy said on Friday it had signed a heads of agreement with AG&P Terminals &Logistics (Singapore). The two firms...

Spot LNG rates remain weak

“Spark30S rates rose for a fourth consecutive week, increasing marginally by $750 to $23,500 per day,” Qasim Afghan, Spark’s commercial...

More News Like This

Monjasa in UAE LNG bunkering move

Monjasa said on Wednesday it introduces the UAE’s first dedicated LNG bunkering vessel, Green Zeebrugge. Previously known as Engie Zeebrugge,...

Japan’s NYK adds newbuild LNG carrier to its fleet

South Korea's Samsung Heavy Industries delivered the 174,000-cbm Quest Kirishima on Monday. NYK said the vessel will be deployed under...

NYK’s LNG-powered bulker wraps up sea trials in China

NYK's LNG dual-fuel bulker has completed its sea trials in China, according to shipbuilder Shanghai Waigaoqiao Shipbuilding (SWS). CSSC's SWS...

Saipem consortium clinches $1.2 billion Tangguh UCC contract

The EPCI contract is part of the BP Berau-led integrated project known as Tangguh UCC, comprising of Ubadari field...