Sovcomflot secures loan for LNG carrier pair

Joint venture companies belonging to Sovcomflot, NYK Line and Samudera, have secured a $155 million loan to finance an LNG carrier pair.

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

The facility will be used towards refinancing two LNG carriers servicing the Tangguh LNG plant, Tangguh Towuti and her sister ship Tangguh Batur, which are jointly owned and operated by SCF Group, NYK Line and Samudera, the Russian shipping major said in its statement.

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

It is operated by BP and began LNG exports in 2009.

The designated annual output of extracted gas is 7.6 million tonnes, which is exported to China, the Republic of Korea and the USA, as well as being used domestically.