LNG (LIQUIFIED NATURAL GAS)

BP orders 4 LNG tankers

BP Plc’s shipping unit, BP Shipping, has confirmed it has placed an order for four LNG tankers from South Korea’s Hyundai Heavy Industries.

BP orders 4 LNG tankers

In a statement the firm said, “The new, double-hulled ships will have a capacity of 155,000 cubic metres. They will be membrane type design and will be equipped with dual fuel diesel-electric propulsion.”

“The four ships will be delivered in the period 2007 and 2008 [and], in addition to the firm orders, options for an additional four ships have been agreed,” added the company without elaborating further.

According to BP’s Group Vice President Gas, Power & Renewables Anne Quinn, “Our LNG supply to market is growing rapidly and in order to meet the increasingly flexible requirements of our customers we need access to the very best LNG shipping capacity.”

“This order will underpin our growth and open up a host of opportunities to capture additional value by optimizing the flow of LNG to markets particularly in the Atlantic Basin,” added Quinn.

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