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July 9, 2014
18:35 EDTTGPTeekay LNG finalizes contracts for six Yamal LNG Carrier newbuildings
Teekay LNG, through a new 50/50 joint venture with China LNG Shipping Limited, has finalized shipbuilding contracts for six internationally-flagged icebreaker liquefied natural gas carriers for the Yamal LNG Project, which is located on the Yamal Peninsula in Northern Russia. Under the agreements, the joint venture between Teekay LNG and China LNG will build six 172,000 cubic meter ARC7 LNG carrier newbuildings to be constructed by Daewoo Shipbuilding & Marine Engineering Co., Ltd., of South Korea, for a total fully built-up cost of approximately $2.1B.
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