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>

<< Dec 2018 >>
MTWTFSS
26 27 28 29 30 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 2 3 4 5 6

Global LNG Forum 2019

Global LNG Forum is your opportunity to see what the future of LNG will be like…

read more >

LNG2019

LNG2019 is presented by the IGU, GTI and IIR, supported by the Shanghai Government and hosted by China LNG Association, China Gas Society, The Chinese Association of Refrigeration and China Gas Association.

read more >

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >