CSDC provides guarantees for Yamal LNG newbuilds

China Shipping Development Company (CSDC) has guaranteed orders for three LNG newbuilds, being built by DSME for the Yamal LNG project.

Total consideration for the construction of  the ice-class vessels is close to US$1 billion.

“The total aggregate liability of the Company under the Corporate Guarantees will not exceed US$490 million,” CSDC said in a statement.

The company also noted that it provided guarantees of up to US$6.4 million for the charters of the ice-class carriers that DSME will deliver to their owners by 2019.

LNG World News Staff, July 23, 2014; Image: Yamal LNG