Hyundai Heavy Industries, Big order for Qatargas project
Posted: 17 November 2004
Major South Korean shipbuilders have gained orders from Qatargas II to build 16 liquefied natural gas, or LNG, tankers. The order is the largest in the history of the Korean tanker construction industry.
Hyundai Heavy Industries Co., Ltd. won US$470 million worth of orders from Qatargas to build two 216,000 m3 LNG carriers.
The order is a part of Qatargas II project between ExxonMobil and Qatar Petroleum, and includes the building of four LNG carriers according to the basic design provided by HHI.
The vessels are the largest membrane-type LNG carriers currently ordered in the world. Unlike the existing steam turbine engines, they will adopt slow speed diesel engines installed with a re-liquefaction plant to reduce operating costs.
The LNG carriers will be 315m long, 50m wide and 27m deep with a service speed of 19.5 knots, which will be used to deliver LNG produced in Qatargas train four to U.K. The ships are scheduled to be delivered in October 2007 and January 2008.
The shipowner, Overseas Shipholding Group (OSG), is one of the largest shipping companies in the U.S., which has placed more than 50 vessel orders with HHI.
Prior to this, HHI received orders for eight 155,000 m3 LNG carriers (including four optional vessels) from BP.
Samsung Heavy Industries Company has a separate contract to build two similar ships of the same value.
A news report from Korea quoted Daewoo, the world’s second-largest shipbuilder, which said it has an $875 million contract to build four tankers that can each carry up to 210,000 cubic meters of liquefied natural gas for Qatargas II.
Posted by Alexander Lindsay, Editor Pipeline Magazine
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