16th May 2008 07:00
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News Release |
16 May 2008
BG Group Orders Two Additional 170,000 m3 Liquefied Natural Gas (LNG) Ships
BG Group plc today announced that it 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, BG Group Executive Vice President, Americas and Global LNG said: "Today's agreement demonstrates our continuing commitment to build and operate LNG carriers of the highest standard. 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."
Samsung will build, equip, launch and deliver the ships, which will use the GTT Mark III membrane cargo containment system. The new ships' design specifications are a repeat of the 170,000 m3 design which is intended to provide maximum flexibility for access into regasification terminals around the world while minimising transportation costs.
BG Group's current LNG shipping fleet consists of more than 20 vessels that are comprised of owned and chartered ships. To date, Samsung has constructed and delivered eight ships for BG Group. These new ships are intended to replace chartered tonnage when delivered.
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There are matters discussed in this media information that are forward looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to the Company's annual report and accounts for the year ended 31 December 2007. The Company does not undertake any obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
Notes to Editors:
BG Group plc is a global natural gas business. Active on five continents in 27 countries, it operates four business segments - Exploration and Production, Liquefied Natural Gas (LNG), Transmission and Distribution and Power.
BG controls a fleet of LNG vessels to support its growing LNG business.
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