LNG (LIQUIFIED NATURAL GAS)

Samsung to build two LNG ships

Korean shipbuilder Samsung Heavy Industries has won a contract to build two new LNG carriers for BG.

The ships are planned to ply the Trinidad to USA route, from BG's Atlantic LNG facility in Trinidad. BG currently controls a fleet of six ships.

The two 138,000 cubic metres ships are due for delivery in the second and third quarters of 2004 respectively. BG has also secured options with Samsung for a further six new build ships - three for delivery in 2005 and the remaining three to follow in 2006. The value of the contracts have not been released.

Martin Houston, executive vice president, BG Group plc said: "This latest development in BG's liquefied natural gas portfolio further consolidates our growing position in the marketplace. This, and the fleet of ships we already own or control, will underpin BG's developing LNG projects and our recently announced US Lake Charles LNG terminal capacity agreement. The options over other new build ships leverages our ability to transport LNG when our Trinidad and Egypt LNG projects come to fruition, and to carry other parties' LNG."

Samsung will build, equip, launch and deliver the ships using the Gaztransport & Technigaz (Mk III) membrane cargo containment system - the standard LNG ship specification. The vessels will utilise dual-fuel steam turbine propulsion enabling them to sail at an average speed of 20 knots and a cruising range of about 21,000 nautical miles.

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