LNG

Aug 10 (LNG) - Dynagas, the privately-held LNG fleet controlled by the Greece-based shipping group of George Prokopiou, is expected to take over from Russia's Sovcomflot the contracts for five ice-class LNG carriers to serve Russia's Yamal LNG project because of financing issues linked to the vessels. The 172,000 cubic metres capacity newbuilds were ordered at Daewoo Shipbuilding and Engineering by the Yamal LNG project being developed by Novatek, the second-largest Russian natural gas company. Russian shipping company Sovcomflot had been expected to organize the financing that was part of a larger LNG carrier programme. The other Yamal LNG carriers ordered from Korea have been taken over by companies such as Teekay LNG, China LNG Shipping and Mitsui OSK Lines.