China Shipping Development Company (CSDC) has guaranteed orders for three LNG newbuilds, being built by DSME for the Yamal LNG project.
Total consideration for the construction of the ice-class vessels is close to US$1 billion.
“The total aggregate liability of the Company under the Corporate Guarantees will not exceed US$490 million,” CSDC said in a statement.
The company also noted that it provided guarantees of up to US$6.4 million for the charters of the ice-class carriers that DSME will deliver to their owners by 2019.
LNG World News Staff, July 23, 2014; Image: Yamal LNG