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Sovcomflot to receive loan for LNG carrier pair

Sovcomflot to receive loan for LNG carrier pair

Sovcomflot's joint venture companies, NYK Line and Samudera, have secured a $155 million loan to fund a pair of LNG carriers.

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The eight-year credit facility has been negotiated with MUFG Bank and Development Bank of Japan Inc.

The facility will be used to refinance two LNG carriers serving the Tangguh LNG factory, Tangguh Towuti and her sister ship Tangguh Batur, jointly owned and operated by the SCF Company, NYK Line and Samudera, according to the Russian shipping major in its statement.

The Tangguh LNG plant in Indonesia, which is involved in the production and shipping of LNG, is operated by an international consortium, the Tangguh Production Sharing Contractors (TPSC).

It is owned by BP and in 2009 it started exporting LNG.

The designated annual production of extracted gas is 7.6 million tonnes, which is exported and used domestically in China, the Republic of Korea and the USA.

Maritime Business World 

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