Reactivating and Bringing into Service Laid-up LNG Carriers(eBook)

Published Date

January 1993

Reactivating and Bringing into Service Laid-up LNG Carriers(eBook)

(Excludes any applicable taxes)

This paper discusses the acquisition and reactivation of laid-up LNG carriers purchased for the Nigerian LNG Scheme that were used for other trades before project start-up. (15pp)

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Gas prices in the Atlantic Basin have traditionally been lower than those obtainable on the Pacific Rim. This has made it difficult to justify new large scale LNG export projects from the Atlantic area, which is rich in gas. A major component in the financial make-up of any large LNG export scheme is the cost of the shipping which, with new LNG carriers costing currently in the region of US$ 270 million to US$300 million each, can typically be about one third of the total project cost. It is important to try and reduce this cost. In the Nigerian LNG project to export 5.7 billion cubic meters per year of LNG to Europe and the USA, this has been achieved by the purchase and reactivation of a fleet of existing LNG carriers that for various reasons have not entered service after being delivered and had laid-up for some time. This paper discusses the acquisition and reactivationof laid-up LNG carriers purchased for the Nigerian LNG Scheme and which are being used for other trade before the start up of the project.

Nigeria LNG Ltd. (NLNG) is a Nigerian based company with shareholding as follows: Nigerian National Petroleum Corporation 60%, Shell Gas BV 20%, AG1P International BV 10% and CLEAG Ltd. (a company of the Elf Group) 10%. Bonny Gas Transport Ltd (BGT) is an wholly owned Bermudan subsidiary that owns the ships that will eventually service the NLNG contracts. Shell Gas Nigeria BV acts as Shipping Adviser to BGT, and Shell Tankers (UK) Ltd are currently contracted as shipping managers and operators.

Paper Delivered by:
Abba Gana (Nigeria LNG Ltd)

Prepared for:
Gastech Paris 1993

For over 45 years, the Gastech Exhibition & Conference has been at the forefront of the international gas and LNG market. This world-renowned event is regarded as the most significant meeting place for gas and LNG professionals, where the global industry gathers to do business.

Gastech hosts major IOCs, NOC’s, global utility companies, EPC contractors, shipbuilders, pipeline companies, manufacturers, distributors, technology and service providers, all who play an active role in the global energy value chain.

Title: Reactivating and Bringing into Service Laid-up LNG Carriers(eBook)
Product Code: 4433g015
Published Date: January 1993

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