Dynagas swoops five Yamal LNG carriers

Dynagas swoops five Yamal LNG carriers

Financial issues at Russia’s shipping company Sovcomflot have reportedly opened doors for Dynagas, an Athens-based owner and operator of LNG carriers, to move in and acquire five ice-class Arc 7 LNG newbuildings destined for the Novatek-operated Yamal project. 

Lloyds List reports that Sofcomflot ran into problems securing the finances for the newbuildings as banks turned away from the project, declaring it risky.

Dynagas, however, secured funds for the five vessels at a total of $1.5 billion, with each of the five LNG carriers to be delivered from 2017 onwards valued at $320 million. The 172,000 cubic meter Arc 7 LNG carrier newbuildings are being built by the Korean shipbuilder Daewoo Shipbuilding and Marine Engineering.

Sovcomflot will have one Yamal LNG carrier left on order and expects it to be delivered in 2016.

Production at the 16.5 mtpa facility at Sabetta, north-east of the Yamal Peninsula, is scheduled to start in 2017.


LNG World News Staff; Image: Teekay

Share this article

Follow LNG World News


<< Aug 2019 >>
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 30 31 1

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >