BG Group exercises options for delivery of four new LNG vessels

By OGJ editors

HOUSTON, Apr. 26 -- BG Group PLC said it will exercise its options with South Korean firm Samsung Heavy Industries Co. Ltd. for the delivery during 2007-08 of four, 145,000 cu m newbuild LNG vessels. The four-ship contract is valued at $620 million.

The ships will be used for BG's Atlantic basin LNG business.

Samsung will build, equip, launch, and deliver the ships, which will use steam-turbine propulsion, enabling them to sail at an average speed of 20 knots.

BG currently owns two LNG ships, Methane Arctic and Methane Polar, which are on long-term charters to third parties in the Atlantic Ocean and Mediterranean Sea. The company also charters five ships from Bermuda-based Golar LNG Ltd.—Hill, Gimi, Khannur, Golar Freeze, and Methane Princess.

In addition, BG will take delivery of a new LNG ship, Methane Kari Elin, in mid-2004 and three new ships in second half 2006.

Related Articles

INGAA Foundation forecasts oil, gas infrastructure outlays to 2035

03/18/2014 An estimated $640.9 billion, or an average $29.1 billion/year, will need to be spent on US and Canadian midstream crude oil, natural gas, and natur...

Cameron LNG awards export-plant contracts

03/17/2014 Cameron LNG LLC has awarded CB&I and Chiyoda International Corp. a $6 billion engineering, procurement, and construction contract to build a 13...

IOC to buy stake in proposed PNW LNG terminal

03/17/2014 Indian Oil Corp. Ltd. (IOC) has signed an agreement with Progress Energy Canada Ltd., Calgary; Pacific Northwest LNG Ltd. (PNW LNG), Vancouver, BC;...

FERC issues draft EIS on Freeport LNG’s Phase II projects

03/14/2014 The US Federal Energy Regulatory Commission has issued a draft environmental impact statement (EIS) on Freeport LNG’s Phase II modification and liq...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected