El Paso Finalizes Agreement
El Paso Global LNG, a subsidiary of El Paso Corporation, announced today that the definitive liquefied natural gas (LNG) purchase and sale agreement signed in October 2001 with a consortium of natural gas production companies led by Statoil ASA received final Norwegian and United States government approvals on May 31, 2002. The consortium will develop the Snohvit Project in northern Norway and provide El Paso with an annual delivery of approximately 1.8 million tons of LNG during the 17-year primary term of the agreement. This agreement will account for more than 40 percent of the total capacity to be produced at the Snohvit Project's LNG liquefaction facility, which will be located on Melkoya Island, just north of Hammerfest, Norway.
Princess Sails with
LNG carrier “Arctic Princess” is seen leaving the Statoil LNG plant at Melkoya Island, Hammerfest, Norway, on September 20 with the first-ever cargo of liquefied natural gas (LNG) from the Snohvit fields northwest of Hammerfest, Norway. GAC-Ole R Olsen’s Hammerfest team took care of the vessel from its arrival on Sept 10, the loading of its historic cargo, and departure from the terminal. “ARCTIC PRINCESS” is 288 meters long and has a fully-laden capacity of 147 000 cubic meters of LNG. The LNG is carried at a temperature of minus 163 degrees centigrade in four spherical tanks, each with a diameter of 42 meters. A full cargo load of LNG is sufficient to cover the yearly energy consumption of all households in a city with a population of 45 000 people. (Photo Credit: Courtesy of GAC)
Meet the ULFPS
While seeking to consolidate its existing LNG carrier workload by bidding for new tonnage to serve the Qatari export traffic and other projects, Spanish shipbuilder IZAR has intensified its research endeavors so as to create a broader business platform in the energy market. The group has thrown its weight behind a new initiative aimed at developing floating plant incorporating gas-to-liquids (GTL) technology to extract and convert gas from remote offshore fields into premium grade liquid products. The joint industry research and development project, known as Seagas, draws in IZAR Fene Shipyard (the former Astano establishment), Bermuda-based engineering corporation Foster Wheeler, and other partners from various disciplines.
Spain: IZAR Shows Its Mettle in the Gas Sector
As the sole shipbuilding organization outside eastern Asia with a current involvement in the construction of large LNG carriers, IZAR is determined to maintain a long-term position in a promising, higher value-added field of the newbuild market. The present business profile is based on a series of membrane-type vessels of 138,000-cu. m. capacity, contracted in recent years in the face of fierce international competition and oriental domination of gas tanker production. However, the gathering momentum behind the Spanish group's research and development drive has increased its offering to the LNG transportation sector beyond the impressive new generation of ships now taking form in Sestao and Puerto Real for Spanish and Norwegian interests.
