BG Signs Up for Two New Liquefied Natural Gas Ships

BG Group plc has signed an agreement with Samsung Heavy Industries Co Limited of South Korea for the delivery of two new-build dual-fuel diesel electric (DFDE) LNG ships. The new ships will each have a cargo capacity of 170,000 cubic-metres (m3) and are scheduled to be delivered in 2010.

Martin Houston, Executive Vice President and Managing Director, North America, Caribbean and Global LNG, said:

"The agreement demonstrates our commitment to build and operate LNG carriers of the highest standard. I am delighted that we will continue our long-term relationship with Samsung. These two new vessels will replace some of our chartered ships, will improve our fleet's performance and provide us with increased flexibility in meeting the growing demand by our customers for clean burning natural gas."

Samsung will build, equip, launch and deliver the ships using the GTT Mark III membrane cargo containment system. The specification will be a new design of 170,000 m3 (cargo capacity) and will provide maximum flexibility for access into re-gasification terminals around the world. The design incorporates hull modifications and DFDE propulsion technology, which is expected to substantially improve operating efficiency and reduce air emissions compared to conventional steam turbine technology.

An additional four vessels, each with a cargo capacity of 145,000 m3, are currently under construction at Samsung Heavy Industries, Geoje Island Shipyard, South Korea. These ships are scheduled for delivery in 2007 and early 2008.

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Posted 08/01/07

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