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  • Knutsen delivers the new methane tanker built at the Sestao shipyards to Gas Natural and Repsol YPF
    édité le 30/11/2007 - Plus de news de "Naturgy" - Voir la fiche entreprise de "Naturgy"

Knutsen delivers the new methane tanker built at the Sestao shipyards to Gas Natural and Repsol YPF
This ship is the recent addition to the 11 methane tankers operated by the joint company of GAS NATURAL and Repsol YPF for ocean transport of liquefied natural gas (LNG).

The methane tanker Sestao-Knutsen, with 138,000 cubic metres capacity, will set off tomorrow Saturday from Bilbao for its first transport.

The ship-owner Knutsen OAS Shipping today delivered to GAS NATURAL and Repsol YPF a new methane tanker, the Sestao-Knutsen, with 138,000 cubic metres capacity, which will join the fleet of Stream, the joint company formed by the two energy companies destined for transporting liquefied natural gas (LNG).

The general manager of Knutsen OAS Shipping, Trygve Seglem, delivered the methane tanker to the chairman of Repsol YPF, Antonio Brufau, and Gas Natural, Salvador Gabarró, during the course of an act which took place aboard the ship, which is docked at the La Naval shipyards in Sestao, and was chaired by the Minister of Industry, Commerce and Tourism of the Basque Government, Ana Agirre, and the councilor for Bizkaia, José Luis Bilbao.

The ship was chartered via a time-charter contract, for a period of 25 years, extendable for consecutive 5-year periods and represents a joint investment of 161 million euros, which corresponds to the current value of payments by Repsol YPF (50%) and GAS NATURAL (50%).

After the delivery of the tanker, the Board of Directors of GAS NATURAL held its monthly meeting aboard the ship, which will leave the shipyard and come into service tomorrow Saturday.

The delivery of the Sestao-Knutsen is a major milestone in the history of the two companies, which formed Stream to carry out joint trading activities, wholesale commercialization and transport of liquefied natural gas (LNG).

The addition of the ship to the fleet form part of one of the strategic planks of GAS NATURAL for the period 2008-2012, oriented towards the vertical integration in up and midstream as a key competitive advantage in a more competitive and volatile environment.

For Repsol YPF the delivery of the methane tanker strengthens the company's excellent position in the integrated LNG business which is one of its chief growth channels over the coming years.

Capacity of 138,000 cubic metres

The Sestao-Knutsen has a transport capacity of up to 138,000 cubic metres of gas and can reach a speed of 19.5 knots. The tanker is double-hulled, double-bottomed in the loading area and has four double-membrane cryogenic tanks. It is 284.4 metres in length, 42.5 metres in width and has a height of 25.4 metres.

The ship is capable of loading and offloading in a maximum time of 12 hours and can use the gas which vaporizes during transport by burning it in the boilers to feed its own steam turbine.

The Sestao-Knutsen was built at the Izar shipyards in Bilbao for over two years. The methane tankers built at this shipyard are high technology and value-added vessels, within highly demanding security requisites due to the type of load they carry.

Third LNG operator in the world

The Sestao-Knutsen will join the fleet of 11 methane tankers operated jointly by GAS NATURAL and Repsol YPF. During the first semester of 2009, the fleet will be enlarged with another Knutsen ship already in operation, with a capacity of 138,000 cubic metres and in 2010, with a further four tankers, three commissioned also to Knutsen OAS and one to ElCano.

Stream Repsol-Gas Natural LNG is a company created in 2005 by Repsol YPF (50%) and GAS NATURAL (50%) for the commercialization, transport and wholesale of LNG.

GAS NATURAL and Repsol YPF currently form the third group in the world in LNG transport and the first to operate in the Atlantic Basin. Two thirds of the Spanish natural gas market is supplied by liquefied natural gas.

In 2006, Stream commercialized 17.2 bcm of LNG and managed a total capacity of 1,125,000 cubic metres of gas.

The company carried out commercialization operations with Trinidad and Tobago, Nigeria, Qatar, Libya, Oman, Egypt and Algeria, managing a total of 275 shipments.

Origine : Communiqué Naturgy

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