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BG Group to Buy LNG Ships From Samsung

Posted on: Tuesday, 20 May 2008, 09:01 CDT

British gas major BG Group has signed an agreement with Samsung Heavy Industries of South Korea, for the delivery of two new-build dual-fuel diesel electric liquefied natural gas ships.

The BG Group noted that the ships will each have a cargo capacity of 170,000 cubic meters of liquefied natural gas (LNG) and are scheduled to be delivered in 2010.

Samsung will build, equip, launch and deliver the ships, which will use the GTT-Mark-3 membrane cargo containment system. The ships' design specifications are intended to provide maximum flexibility for access into regasification terminals around the world, while minimizing transportation costs.

BG Group's current LNG shipping fleet consists of more than 20 vessels that are comprised of owned and chartered ships. Samsung has constructed and delivered eight ships for the British gas company. These new ships are intended to replace chartered tonnage when delivered.

Martin Houston, BG Group executive vice president for Americas and global LNG, said: "These two new vessels are sister ships to the vessels BG ordered from Samsung in 2006. Their addition to the BG fleet will further enhance performance and provide increased flexibility in meeting the growing demand by our customers throughout the world for natural gas."

Source: Datamonitor

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