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BW Gas finalises Suez LNG deal

Source: 10/18/2005, Location: Middle East

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Bergesen Worldwide Gas ASA has finalised agreements with Suez LNG Trading SA for two LNG vessels for a period of 20 years. These vessels will be used to transport LNG primarily to the USA from the new liquefaction plant in Bal Haf, Yemen. The two 156,100 cubic metre vessels will be built at Korean shipbuilder DSME (Daewoo) for a total contract price of USD 427 million. The vessels will be delivered in May 2009 and will be equipped with state-of-the-art diesel-electric propulsion.

Jan Håkon Pettersen, CEO of Bergesen Worldwide Gas ASA, says: "We are delighted to be entering into this agreement with Suez LNG, which is one of our most important customers. We believe that our technical and operational performance, combined with innovative financing, have been important factors in winning this tender, which serves to confirm that BW Gas is considered a reliable and trusted provider of LNG transportation. The two new vessels will provide growth in our LNG business and create additional value for our shareholders."

Commenting on the agreement, Clay Harris, Regional Manager of SUEZ Global LNG, says: "We are pleased to continue to develop our relationship with a first class shipping company such as Bergesen Worldwide Gas. The acquisition of these vessels will reinforce our strengths as a substantial player in the Atlantic market for LNG."

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Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Related Articles: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

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