Yamal LNG tanker JV no longer under sanctions after ownership change [Reuters]
Teekay LNG Partners L.P. (TGP)
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Source: Reuters
Yamal LNG tanker JV no longer under sanctions after ownership change - Reuters 2 Min Read SINGAPORE, Oct 23 (Reuters) - Teekay LNG’s liquefied natural gas (LNG) tanker venture, the Yamal LNG Joint Venture, is no longer subject to U.S. sanctions after a change of ownership at its partner China LNG Shipping (Holdings) Ltd, Teekay companies said late on Tuesday. Teekay LNG and China LNG Shipping each own half of Yamal LNG Joint Venture. The company owns four specialised Arc7 LNG tankers, or “ice class carriers”, which ship LNG from Yamal LNG, a massive production facility operated by Russian independent gas producer Novatek in the Russian Arctic. The joint venture was blocked in late September after the United States imposed sanctions on two units of COSCO Shipping Energy Transportation Co Ltd, including COSCO Shipping Tanker (Dalian) which owns China LNG Shipping. The sanctions caused shipping costs for oil and LNG to more than double across the globe. China LNG Shipping is no longer “c
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