Repsol, Gas Natural sign LNG vessel deal

By OGJ editors
HOUSTON, May 17 -- The Stream joint venture of Spanish companies Repsol YPF SA and Gas Natural SDG SA has signed a 20-year time-charter contract with shipbuilder Knutsen OAS for another 138,000 cu m LNG carrier to be employed in its Atlantic Basin operations.

Knutsen, which will enter the vessel into service this year, will begin operating for Repsol and Gas Natural in 2009. The contract has an option for two 5-year extensions.

The JV also had contracted with Knutsen in January 2005 for an LNG vessel, the 138,000 cu m Izar 331, to be delivered in December 2007 from Sestao, Spain, shipyards.

The two LNG carriers will bring the JV's fleet to 13 vessels having a total gross capacity of more than 1.5 million cu m.

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