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DSME To Build up to 16 Ice-Class LNG Carriers for Russia’s Yamal LNG

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July 4, 2013

reuters logoMOSCOW, July 4 (Reuters) – Daewoo Shipbuilding & Marine Engineering has won a tender to build ice-class gas tankers for the Yamal LNG project to produce liquified natural gas, which is being led by Russia’s Novatek.

Yamal LNG said that it and South Korean shipbuilder Daewoo signed an agreement which stipulates the options to build, launch, equip, complete and deliver up to 16 tankers and establishes the preliminary prices of the tankers and the timing of their launch and delivery.

The agreement also allows transfer of rights to finance the tankers’ construction to third parties – shipping companies chosen by Yamal LNG. Ice-class tankers have the ability to work in harsh conditions and Arctic waters.

The project is slated to produce 16.5 million tonnes of liquefied natural gas after 2018.

Novatek previously owned 80 percent in the project, but sold 20 percent to China’s CNPC earlier this month. France’s Total holds 20 percent in Yamal LNG. (Reporting by Vladimir Soldatkin; editing by Megan Davies)

(c) 2013 Thomson Reuters, Click For Restrictions

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