NLNG Subsidiary (BGT) and Hyundai (Korea Heavy Industries Co. Ltd) sign Contract for TWO new LNG Carriers

Hyundai Heavy Industries Co. Limited (HHI), Korea, the world's largest shipbuilder, and BGT, a fully owned subsidiary of NLNG Limited today signed a contract for the construction of two (2) new 138,000m³ Moss-type LNG carriers.

Earlier this year, NLNG floated an international tender to 13 multinational shipyards capable of constructing LNG carriers, and for the successful tenderer (HHI), this is the first export contract of LNG carriers for the Korean shipbuilders.

The 138,000m³ Moss-type LNG carrier is 288M long, 48.2M wide and 26.5M deep with a design draft of 11.15M, fitted with four (4) independent spherical tanks. The propulsion will be provided by a steam turbine developing an MCR of 31,500 bhp, enabling the ship to sail at a service speed of 19.75 knots.

The two138,000m³ LNG carriers shall be delivered in August and September 2002 to transport LNG mainly to Europe from the third train expansion of the NLNG Plant on Bonny Island, which will start up around 2003.

Since it delivered Korea's first LNG carrier of 125,000m³ capacity in 1994, Hyundai Heavy industries has to date handed over three (3) 125,000m³ LNG carriers with four (4) 135,000m³ LNG carriers under construction, for domestic shipowners.

Bonny Gas Transport Limited, incorporated in Bermuda, is a wholly-owned subsidiary of Nigeria LNG Limited, a company whose shareholders are Nigerian National Petroleum Corporation (NNPC), Shell, CLEAG Limited (a subsidiary of Elf) and Agip.

Nigeria LNG Limited
August 9, 1999