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 operated 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.

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