BP Amoco Orders Two LNG Carriers From SHI

Thursday, August 17, 2000
BP Amoco ordered two liquified natural gas (LNG) ships, with options to purchase three more, from Samsung Heavy Industries Co for in excess of $300 million. The oil giant, which is the world's second largest non-state producer of natural gas, said construction will start in April 2001 with delivery of the first ship in the fourth quarter of 2002 and the second in the first quarter of 2003. "This order is part of our strategy for rapidly growing our internationally traded gas business. It is unusual in that it does not follow the traditional convention of tying vessel orders to specific gas sources and specific gas customers," said Richard Flurry, chief executive, Gas and Power in a statement. Flurry said the orders formed part of the group's wider gas and power strategy including the recent deal to supply LNG to the Dominican Republic, the securing of access to the North American gas market via Cove Point in Maryland and the recent decision to invest in Europe's first integrated LNG regasification and power station at Bilbao in Spain. The ships will have a capacity of 136,000 cubic metres at 98.5 percent full.
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

OSI to Integrate Software for UK Royal Navy

OSI Maritime Systems (OSI) announced the signing of a contract to integrate its flagship software, ECPINS-W Sub, into the U.K. Royal Navy’s T45 Destroyer Integrated Bridge System (IBS).

HHI to Deploy 3DEXPERIENCE Design Platform

Hyundai Heavy Industries Selects Marine & Offshore Industry Solution Experiences for Design and Engineering of Offshore Structures Dassault Systèmes, the 3DEXPERIENCE Company,

Canadian Icebreaker Refit Contracts Awarded

The Canadian Government informs it has awarded a $6.5 million contract to Babcock Canada Inc. for critical refit work for Canadian Coast Guard ship 'CCGS Louis S.

Finance

Diamond Offshore Shares on the Rise

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected quarterly profit as it cut drilling costs and hiked prices,

Ecochlor Raises $10m for BWT Maket

Ecochlor, Inc. announced that it has completed a $10 million equity financing to support its growth into the burgeoning ballast water treatment market. Since its formation in 2001,

Offshore O&G: Cuts, Delays in Norway as Costs Soar

More oil and gas projects in Norway could be put on hold because of rising costs, adding to a growing list of developments that have been delayed or called off,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1063 sec (9 req/sec)