SINGAPORE: 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.