Top > News Releases > "K"Line participation in Statoil's LNG Coastal Transportation Project

February 16, 2004
Kawasaki Kisen Kaisha, Ltd.

"K"Line participation in Statoil's LNG Coastal Transportation Project

"K"Line has been awarded as the partner of Statoil ASA in its LNG Coastal Transportation Project. The two companies will work together to develop the concept of Coastal LNG transportation.

This project is to deliver LNG from the Snohvit LNG Plant in Melkoya or LNG Terminals in Europe including Belgium and UK to coastal cities in Norway and its neighboring countries by a small LNG vessel(s). "K"Line will work together with LNG Norge, 100% subsidiary of Statoil, to study and develop the concept and to evaluate the idea for implementation.

The study will commence in this mid-February and will continue until middle of this year when the two companies will have completed design of the basic concept, vessel specifications and selection of the ship builder. As a consequence, if Statoil decides to implement this project, "K"Line will then, together with Statoil, be the owner/operator of the vessel(s) that will be delivered around late 2006 or early 2007. The vessel(s) will be engaged in domestic transportation first, but their activities can be expanded to ports in neighboring countries.

While "K"Line has already established a good relationship with Statoil since the company contracted as a Time Charter Party for the Snohvit Project in 2001, "K"Line is hopeful of further strengthening its relationship with Statoil, and would like to closely cooperate with Statoil in its future activities worldwide relating to LNG. Also, "K"Line would like to utilize the know-how it will accumulate through the study of this project to demonstrate its own strength in the area of short/mid-distance Natural Gas transportation.


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