Teekay LNG Partners launched its first ice[ds_preview]breaker LNG newbuilding. »Eduard Toll« is the first of six 172,000 m³ ARC7 LNG carrier newbuildings to be constructed for the Yamal LNG project.
The construction of Eduard Toll began earlier last year at the DSME shipyard in South Korea. As early as in July 2014, Teekay LNG Partners, through a new 50/50 joint venture with China LNG Shipping, announced shipbuilding contracts for six LNG 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 m³ ARC7 LNG carrier newbuildings to be constructed by Daewoo Shipbuilding & Marine Engineering (South Korea) for a total fully built-up cost of approximately 2.1 bill. $. The vessels will be constructed with maximum 2.1 m icebreaking capabilities in both the forward and reverse direction.
Yamal LNG, a joint venture between Russia-based Novatek (60 %), France-based Total (20 %) and China-based China National Petroleum Corporation (CNPC) (20 %), will consist of three LNG trains with a total expected capacity of 16.5 mill. t of LNG per annum and is scheduled to start-up in early-2018.
»These vessels add to Teekay LNG’s existing pipeline of growth projects scheduled to deliver between now and 2020, which includes our five MEGI LNG carrier newbuildings, 10 LPG carrier newbuildings ordered through our Exmar LPG joint venture, and our ownership interest in four LNG carrier newbuildings that will be chartered to BG Group,« said Peter Evensen, CEO of Teekay GP LLC, at that time.
Teekay LNG Partners is one of the world’s largest independent owner and operator of LNG carriers, providing LNG, LPG and crude oil marine transportation services primarily under long-term, fixed-rate charter contracts through its interests in 50 LNG carriers (including one LNG regasification unit and 15 newbuildings), 31 LPG/Multigas carriers (including five chartered-in LPG carriers and 10 newbuildings) and nine conventional tankers.
Teekay LNG Partners L.P. is a publicly-traded master limited partnership (MLP) formed by Teekay Corporation (NYSE:TK) as part of its strategy to expand its operations in the LNG and LPG shipping sectors.
China LNG Shipping, a private China-based LNG shipping company, was founded jointly by Dalian Ocean Shipping Company and China Merchant Energy Shipping LNG Carrier Investment Inc. China LNG is currently the only LNG shipping company that owns and operates LNG carriers in China.
