Two more LNG contracts worth roughly MNOK 44
As a result of the exercise of options, Kongsberg Simrad has sold two more tanker automation systems for the transport of liquified natural gas (LNG). The combined value of the contracts is about MNOK 44. This order brings Kongsberg's total to eight vessels, or 30 per cent of the carriers chartered since the Norwegian company managed break Japanese hegemony in this market.
"LNG carriers are huge, highly sophisticated vessels for transporting gas in liquid form. The process line is what makes the tankers so sophisticated. The LNG that evaporates in the bulk tanks (-164°C) is used as fuel to propel the vessel. This entails the control and monitoring of large compressors, boilers and steam turbines, in addition to all the other auxiliary systems. All these processes, in addition to the engines and safety equipment, are controlled by systems made by Kongsberg. Kongsberg Gruppen has more knowledge and products than any other player on this market", remarks Steinar Aabelvik, president of Kongsberg Simrad.
"The transport market for LNG is growing dynamically. There are roughly 36 LNG carriers being built at nine shipyards that specialise in such vessels. What is more, the market could easily handle 20 or 30 new vessels of this type."
One Kongsberg contract refers to a vessel being built for British Petroleum at the Samsung Shipyard in South Korea. The other refers to a newbuilding for Knutsen OAS, at the IZAR Shipyard in Cadiz in southern Spain.