RasGas charters seven LNG ships
Posted: 5 July 2004
Ras Laffan Liquefied Natural Gas Company Limited (II), RasGas (II) announced today that it has executed Time Charter Agreements with two ship owning consortiums for seven LNG vessels to be built at Daewoo Shipbuilding and Marine Engineering Co Ltd.
Teekay Shipping Corporation and the newly formed Qatar Gas Transport Company will jointly own three of the ships. The ships will have a LNG cargo carrying capacity of 151,700 m3 and will be delivered to RasGas in December 2006, January 2007 and April 2007.
Maran Gas Maritime Inc. and Qatar Gas Transport Company will jointly own the remaining four ships. These ships will have a LNG cargo carrying capacity of 145,700 m3, and will be delivered to RasGas in October 2005, October 2006, July 2007 and during the 1st/2nd quarter of 2008.
Both ship owners are emerging players in a growing LNG industry and are well recognized within the marine industry with an established reputation as first class ship owners and operators in the tanker market.
Under the terms of the Time Charter Agreements, RasGas will charter these vessels for a firm period of 20 years to deliver LNG from existing and future facilities at Ras Laffan Industrial City to its growing portfolio of customers, in particular, RasGas’ buyers in the European market.
The execution of these agreements will bring the RasGas charter fleet, once constructed, to a total of thirteen ships, underscoring RasGas’ commitment to provide safe, reliable transportation to their growing customer portfolio. A fourteenth ship is also under the final stages of negotiation and a further Time Charter Agreement is expected in the near future.
RasGas (II) and its sister company, Ras Laffan Liquefied Natural Gas Company Limited, are joint ventures established by Qatar Petroleum (QP) and ExxonMobil RasGas Inc., an affiliate of Exxon Mobil Corporation.
For more information see www.rasgas.com
Posted by Richard Price,
Editor Pipeline Magazine
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