ChevronTexaco has ordered two liquefied natural gas carriers from Samsung Heavy Industries of South Korea to support the company's key planned growth in the LNG business.
The new LNG carriers will have a capacity of 154,800 cubic meters each. Both carriers will be of membrane-type design and equipped with dual fuel diesel-electric propulsion. According to Reuters, Samsung has revealed that the contract was worth $384.2 million.
The carriers are planned for delivery in 2009 and will be added to ChevronTexaco’s current fleet of approximately 30 oil and gas tankers.
Commenting on the strategic investment for the future, ChevronTexaco Global Gas president John Gass said: ChevronTexaco has large holdings of natural gas resources in the Pacific and Atlantic Basins. The new LNG carriers will enable ChevronTexaco to safely deliver reliable and competitive energy services to our customers.
Gass added, It is important that our company invest now to meet the growing demand for energy in the future. This latest commitment provides ChevronTexaco with a flexible and competitive means of transportation to underpin the company’s LNG growth strategies.