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SMART LNG signs agreement for financing of icebreaking LNG carriers

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LNG Industry,

Sovcomflot has announced that SMART LNG, LLC – a joint venture (JV) of Sovcomflot and NOVATEK – has signed an agreement with VEB.RF Group for lease financing of four Arc7 icebreaking LNG carriers for the Arctic LNG 2 project.

SMART LNG has also signed long-term time charter agreements for these tankers with Arctic LNG 2 LLC. In October last year, SCF Group signed financing and long-term time charter agreements for the lead vessel in this series.

According to the statement, these vessels will be constructed at Zvezda Shipbuilding Complex, taking into account the experience gained from operating Christophe de Margerie – the world’s first icebreaking LNG carrier, which was introduced in 2017.

This has led to the integration of numerous advanced engineering solutions into the vessels’ design. These will provide higher icebreaking capabilities and manoeuvrability when operating in the challenging conditions across both the Western and the Eastern sectors of the Russian Arctic, compared with Arc7 gas carriers serving the Yamal LNG project.

According to the statement, the vessels will be operated under the Russian Federation flag. The Russian Maritime Register of Shipping (RS) will provide technical supervision during the construction of the vessel series.

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