Tangguh picks LNG shippers

BP-operated Tangguh LNG has appointed three consortium of LNG shippers to transport its products to customers in South Korea, China and west coast North America, industry sources said.

The sources told Petromindo.Com that Japan firms K Line, which teamed up with local shipping firm Meratus Line; and Nippon Yusen Kaisha (NYK), which teamed up with local shipper PT.Samudera Indonesia together with Bahama-based shipper Teekay Shipping Corporation, which teamed up with PT Fast Marine Services, had been picked up by Tangguh LNG on 20-year charter.

Each consortium would provide two LNG vessels.

The three consortium were picked beating four other tender participants namely Japan?s Mitsui OSK Line, South Korean Hyundai Merchant Marine and SK Shipping and Danish shipper AP Moller-Maersk.

Teekay had earlier announced that it was finalizing deal for 2 LNG tankers for Tangguh LNG transportation.

The sources said formal agreement would be signed soon.

Tangguh, which has capacity of 8MTPA, is slated to commence production in 2008. The plant is located in Indonesia?s easternmost province of Papua.(alex)