Splash 247

BP in for six new LNG carriers

BP in for six new LNG carriers

Array
(
    [0] => WP_Term Object
        (
            [term_id] => 80
            [name] => Asia
            [slug] => asia
            [term_group] => 0
            [term_taxonomy_id] => 80
            [taxonomy] => category
            [description] => This is the Splash 24/7 news archive related to the Asian Region. News are sorted by release date, from the latest to the oldest.

Find here the updated list of the latest news about Asia. Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 55
            [count] => 6597
            [filter] => raw
            [cat_ID] => 80
            [category_count] => 6597
            [category_description] => This is the Splash 24/7 news archive related to the Asian Region. News are sorted by release date, from the latest to the oldest.

Find here the updated list of the latest news about Asia. Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Asia
            [category_nicename] => asia
            [category_parent] => 55
        )

    [1] => WP_Term Object
        (
            [term_id] => 70
            [name] => Europe
            [slug] => europe
            [term_group] => 0
            [term_taxonomy_id] => 70
            [taxonomy] => category
            [description] => Stay updated on what's going on in Europe by browsing the European region news archive. Find the latest maritime, offshore and shipping news on Splash 24/7.

Find here the updated list of the latest news about the European region. Browse Splash 24/7 for more maritime and shipping news.
            [parent] => 55
            [count] => 5137
            [filter] => raw
            [cat_ID] => 70
            [category_count] => 5137
            [category_description] => Stay updated on what's going on in Europe by browsing the European region news archive. Find the latest maritime, offshore and shipping news on Splash 24/7.

Find here the updated list of the latest news about the European region. Browse Splash 24/7 for more maritime and shipping news.
            [cat_name] => Europe
            [category_nicename] => europe
            [category_parent] => 55
        )

    [2] => WP_Term Object
        (
            [term_id] => 59
            [name] => Gas
            [slug] => gas
            [term_group] => 0
            [term_taxonomy_id] => 59
            [taxonomy] => category
            [description] => This is the Splash 24/7 archive related to the gas sector news coming from all over the world. News are sorted by release date, from the latest to the oldest. 

Get the updated list of the latest news about gas and logistics. Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 54
            [count] => 643
            [filter] => raw
            [cat_ID] => 59
            [category_count] => 643
            [category_description] => This is the Splash 24/7 archive related to the gas sector news coming from all over the world. News are sorted by release date, from the latest to the oldest. 

Get the updated list of the latest news about gas and logistics. Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Gas
            [category_nicename] => gas
            [category_parent] => 54
        )

)

Asian ship finance giants KMarin and ICBC Leasing are investing more than $1bn in six LNG tankers which BP will take on charter for 20-years, predominantly to serve the Freeport LNG facility in Texas.

The ships will deliver in 2018 and 2019. BP has yet to reply to Splash which shipyards are building these LNG carriers.

“These vessels will significantly increase BP’s ability to safely transport LNG to anywhere in the world, directly supporting BP’s global natural gas strategy,” said BP Shipping CEO Susan Dio. “They also will be among the most fuel-efficient and technically advanced LNG tankers ever built.”

The new ships are designed to be about 25% more fuel efficient than their predecessors. They also will be fitted with a reliquefaction plant.

BP has a long-term contract for 230trn BTUs per year of LNG capacity in the Freeport LNG facility. The Freeport LNG liquefaction facility is under construction, and the first train is expected to be operational by the end of 2018.

“BP has built a diverse LNG portfolio spanning both established and emerging markets,” said Alan Haywood, CEO of BP’s global supply and trading business. “Freeport is the latest example of how BP continues to expand the reach of our LNG business and serve our customers with flexible solutions through leveraging our scale, connectivity and relationships – and another sign of our commitment to remaining at the forefront of this rapidly growing and important global business.”

The 2017 BP Energy Outlook forecasts that global LNG trade will grow seven times faster than pipeline gas trade, such that by 2035 it accounts for around half of all globally traded gas. The newly expanded BP Shipping fleet will deliver LNG volumes to a range of BP customers around the world.

Share this article

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts

1 Comment

  1. Bogdan
    October 7, 2017 at 4:48 pm

    Great business for the shipyard that builds these high-tech vessels ! Not to mention the manning side of the deal.