Sovcomflot, NYK Line JVs to get US$176 million refinancing for LNG carrier pair

Joint venture companies belonging to Sovcomflot and NYK Line have signed a new US$176 million non-recourse credit facility for eight years with international banks Sumitomo Mitsui Banking Corporation of Japan, through German subsidiary SMBC Bank EU, Société Générale of France, and Shinsei Bank of Japan.

The facility will be used towards refinancing two ice-class LNG carriers servicing the Sakhalin-2 project, namely, Grand Aniva and sister ship Grand Elena, which are jointly owned and operated by SCF Group and NYK Line.

The vessels transport LNG year-round from the port of Prigorodnoye on Sakhalin Island to customers in Japan, South Korea, and China under long-term contracts with Sakhalin Energy, the operator of the Sakhalin-2 project.