WFW advises Teekay LNG JV on $1.6 billion financing for Yamal Arc7 carriers

Teekay’s first icebreaker LNG newbuilding, Eduard Toll (Image courtesy of Teekay LNG Partners)

International law firm Watson Farley & Williams said Thursday it had advised Teekay LNG Partners and its joint venture partner China LNG Shipping on the $1.6 billion long-term financing for the construction of six Arc7 LNG carrier newbuildings.

All the ships will be built at South Korea’s Daewoo Shipbuilding & Marine Engineering.

Once completed these 172,410-cbm vessels will have 2.1 metre icebreaking capabilities in both forward and reverse and will service the recently commissioned Novatek-operated Yamal LNG project under charter contracts out to 2045.

The first vessel is expected to start its charter contract in January 2018.

The Yamal LNG project includes three LNG trains with a total expected capacity of 16.5 million mt of LNG per annum and year-round transit across Arctic sea routes from the new terminal at Sabetta.

Completion of the financing at the end of last week also coincided with the first commercial LNG being dispatched from Yamal on the first of the fifteen Arc7 LNG carriers leaving Sabetta.

The WFW team advising Teekay LNG on the financing was led by Partner David Osborne assisted by Senior Associate Patrick Smith and Associate Natalia Golovataya, the law firm said.

Share this article

Follow LNG World News

Events>

<< Jun 2018 >>
MTWTFSS
28 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 1

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >

4th Annual Upstream West Africa Summit 2018

In June 2018, Senegal will play host to the No.1 Annual B2B Upstream Oil & Gas event, which will bring together the senior decision makers from across the prolific West Africa region to discuss the trends and challenges currently facing the Oil and Gas industry.

Since the discovery by Tullow Oil in 2007 of the Jubilee Field in Ghana, the Upstream sector has refocused its efforts to explore similar plays around the entire West and North West African coast. These efforts were rewarded with Cairn Energy’s prolific discovery in 2014 followed by Kosmos’ in 2015. The West Africa region has the industry’s spotlight firmly focused on further unlocking the potential of this largely underexplored region.

Companies that will be looking toward further unlocking the deepwater hydrocarbon potential of West Africa include: PETROSEN, BP, Kosmos Energy, Cairn Energy, FAR, Total E&P, Premier Oil, Shell, Tullow Oil along with the Ministries and key solution providers.

 More info

read more >

The 27th World Gas Conference (WGC 2018)

The 27th World Gas Conference (WGC 2018) will be the largest, most timely and most significant global gas conference and exhibition ever held.

read more >

Oil and Gas 2018

The conference will cover a wide range of topics and allow participants to discuss about the new technologies developed in Petroleum…

read more >