OGIT/NYK Sign a New Shipbuilding Contract for LNG vessel for NWS Expansion Project
July 3, 2002
On June 25, 2002, Osaka Gas International Transport Inc. (hereinafter referred to as "OGIT"; President: Yasuo Ryoki) which is a shipping subsidiary of Osaka Gas Co., Ltd. (President: Akio Nomura) and Nippon Yusen Kabushiki Kaisha (hereinafter referred to as "NYK"; President: Takao Kusakari) agreed to terms for a new shipbuilding contract for one 145,000m3 class LNG vessel with Kawasaki Heavy Industries, Ltd. (President: Masamoto Tazaki).
This vessel will be jointly owned by OGIT and NYK at the ratio of 60 to 40 and will be launched chiefly for the North West Shelf (NWS) expansion project in western Australia. The vessel is expected to carry about one million tonnes of LNG in a usual year. Since the specifications of this vessel are designed to meet those at various LNG terminals other than the ones in the NWS project, we have aimed to construct a more flexible LNG transportation network and consequently decrease transportation cost. This vessel will enter service in September 2006 and its operation will be managed by NYK.
OGIT now owns a total of three LNG vessels, two for the Badak IV LNG project in Indonesia together with NYK, MOL, K-Line, Iino Kaiun, and shipping subsidiaries of Tokyo Gas and Toho Gas, and one for the Oman LNG project together with NYK, MOL, and K-Line. We will strive to provide safe and effective transportation of LNG.
Outline of the Vessel for the "NWS Expansion Project"
| - Length Overall | : | About 289.50 meters |
| - Breadth | : | About 49.00 meters |
| - Depth, to upper deck | : | About 27.00 meters |
| - Draught | : | About 11.40 meters |
| - LNG tank system | : | 4 X spherical tanks (Moss Maritime) |
| - Cargo tank capacity | : | About 145,000 cubic meters (equivalent to about 68,000 tonnes of loaded LNG weight) |
| - Gross tonnage | : | About 120,700 tonnes |
| - Deadweight | : | About 71,100 tonnes |
| - Main propulsion plant | : | Steam turbine |
| - Service speed | : | 19.5 knots |
| - Ownership ratio | : | OGIT 60%, NYK 40% |
| - Builder / Yard | : | Kawasaki Heavy Industries, Ltd. / Sakaide |
| - Expected ship operator | : | NYK |
| - Name | : | Undecided |
| Seller | : | BHP Billiton Petroleum (North West Shelf) Pty. Ltd. |
| : | BP Developments Australia Pty. Ltd. | |
| : | Chevron Australia Pty. Ltd. | |
| : | Japan Australia LNG (MIMI) Pty. Ltd. | |
| : | Shell Development (Australia) Proprietary Ltd. | |
| : | Woodside Energy Ltd. | |
| Purchaser | : | Osaka Gas Co., Ltd. |
| Term of Contract | : | 30 years from 2004 |
| Amount of Contract | : | 1 million tonnes in a usual year |
| Trade terms | : | FOB terms |