OREANDA-NEWS. October 9, 2008. Japan Bank for International Cooperation (JBIC) has joined a syndicate of commercial banks financing two modern LNG tankers for the Sakhalin-2 Project, ordered by Sovcomflot and NYK of Japan.

JBIC’s participation in the syndicate will allow the borrowers (JVs companies of Sovcomflot and NYK – owners of Grand Aniva and Grand Elena) to optimise its cost of finance for the vessels.

JBIC’s involvement as a lender demonstrates that the ships fully comply with its own strict requirements (JBIC Environmental Guidelines), which govern the environmental and ecological impact of the ships as well as their safe navigation.

The bank syndicate also includes Mizuho Corporate Bank (Japan) and Bayerische Landesbank (Germany).
A loan facility of USD 320 million, with a repayment period of 12 years, will be used to finance the ships (145.000 m3 capacity). These tankers are of enhanced ice-class (1B class according to international classification). They are equipped with the engine (1C ice-class) which allows operating in ice up to 40 cm thick.

The collateral for the loan, arranged as project finance, will mainly be provided by future freight and hire receivables due under the vessels’ long-term time charter contracts (20 years) for the transportation of liquefied natural gas to customers in Japan, Korea and the USA.
OREANDA-NEWS. October 9, 2008. “In the scientific community of our country you are reputed as talented scientist, who has made an outstanding contribution to the development of the national nuclear industry,” says Medvedev.

He points out that Ilkayev has designed unique systems for Russia’s nuclear arsenal and unique weapons, which have substantially enhanced the defense capacity of the country.

Medvedev wished Ilkayev fruitful work, health and all the best.