| February 21, 2006 |
| |
| MOL, NYK LINE, "K" Line, Shipping Corporation of
India |
| Make Deal on Long-Term Time Charter and Construction of
LNG Carrier |
| to Serve Petronet LNG |
| |
| TOKYO - A consortium of Mitsui O.S.K. Lines, Ltd. (MOL:
President: Akimitsu Ashida), Nippon Yusen Kaisha (NYK LINE: President: Koji Miyahara),
Kawasaki Kisen Kaisha, Ltd. ("K" Line: President: Hiroyuki Maekawa), and Shipping
Corporation of India (SCI) today announced an agreement with New Delhi-based Petronet LNG
Limited (PLL) for a long-term time charter of a new liquefied natural gas (LNG) carrier.
At the same time, the consortium concluded an agreement with Samsung Heavy Industries Co.,
Ltd. (Headquarters: Seoul, South Korea), to build the vessel. |
| |
| PLL is the first LNG importer in India, and has imported 5
million tons of LNG a year from Qatar since 2004, using two LNG carriers. PLL has decided
to import an additional 2.5 million tons per year from Qatar. The new LNG carrier will
supply this additional LNG under a long-term time charter contract. The four-company
consortium that won the contract for the new carrier also operates the two vessels already
in service, and will continue to ensure a steady supply of LNG to India, where energy
demand continues to grow. |
| |
| |
| Outline of Charter Contract |
| Date and place of contract signing |
February 21, 2006, New Delhi, India |
| Owner |
India LNG Transport Company (No.3) S.A. (Headquarters: Panama), new JV by MOL, NYK
LINE, "K" Line, and SCI |
| Charterer |
Petronet LNG Limited |
| Charter period |
25 years after launch of the new LNG carrier (September, 2009) |
| Vessel |
One new membrane-type LNG carrier (154,800m3) |
| Shipbuilder |
Samsung Heavy Industries Co., Ltd. |
| Ship management |
Kawasaki Kisen Kaisha, Ltd. |
|
| |
| |
| [Reference] |
| Outline of Petronet Project |
| Buyers: Petronet LNG Limited (PLL) |
| (Main shareholders) |
| GAIL (India) Limited (GAIL) |
12.5% |
| Bharat Petroleum Corporation Ltd. (BPCL) |
12.5% |
| Indian Oil Corporation (IOC) |
12.5% |
| Oil & Natural Gas Co., Ltd. (ONGC) |
12.5% |
| Gas de France (GdF) |
10.0% |
| Asia Development Bank (ADB) |
5.20% |
|
| GAIL: India’s largest national gas
company, with a 95% share of the Indian gas market |
| BPCL: India’s third largest national
petroleum refinery and sales company |
| IOC: India’s largest national
petroleum refinery and sales company, and largest company in India |
| ONGC: National crude oil and natural gas
extraction and refining company |
| Seller: Ras Laffan Liquefied Gas Company Ltd. II (RasGas II) |
| LNG purchasing volume/period: |
5 million tons per year, 2004 - 2027 |
|
2.5 million tons per year, 2009 - 2034 |
|
| LNG discharging port: Dahji Port, Gujarato State of India |
| Customers to buy gas: |
|
PLL has already concluded the trading contract for natural gas including "Take or
Pay" conditions, with GAIL, BPCL, and IOC. GAIL, BPCL, and IOC will sell the gas to IPP,
fertilizer and gas companies, and other customers. |
|
| |
| |
| For more information, please contact: |
| |
| Shizuo Takahashi |
| General Manager |
| LNG Carrier Group (C), LNG Carrier Division |
| Mitsui O.S.K. Lines, Ltd. |
| Tel: 81-3-3587-7569 / Fax: 81-3-3587-7737 |
| |
| Keiji Kubota |
| Deputy General Manager, |
| No.2 LNG Team, LNG Group |
| Nippon Yusen Kabushiki Kaisha |
| Tel: 03-3284-5610 / Fax: 03-3284-6378 |
| |
| Tomoyuki Okawa |
| Deputy General Manager, LNG Group |
| Kawasaki Kisen Kaisha, Ltd. |
| Tel: 03-3595-6520 / Fax: 03-3595-5512 |