China Exim Bank backs LNG carrier construction

The Export-Import Bank of China will provide approximately US$ 400 million financing to back the construction of four 174,000 m³ LNG carriers at Hudong-Zhonghua Shipbuilding.

The four new LNG vessels were jointly ordered by CNOOC Energy Technology and Services, China LNG Shipping, Teekay LNG Partners and BW’s LNG investment arm.

Hudong-Zhonghua will deliver the LNG carriers from September 2017 to January 2019. The four vessels will transport LNG from BG’s Queensland Curtis Island LNG project in Australia, from which CNOOC is buying liquefied gas.

China Exim Bank said it has provided financing support for 16 LNG carriers to date, worth some US$ 1.7 billion at Chinese shipyards, making it the largest LNG carrier financing bank in China.

Edited from various sources by Katie Woodward

Read the article online at: https://www.lngindustry.com/lng-shipping/07072014/chinese_bank_funds_lng_carrier_construction_923/