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Another Step In Sakhalin Project

Sakhalin Energy Investment Company Ltd. has awarded contracts to two Japanese-Russian Shipowning consortiums

Another Step In Sakhalin Project

Sakhalin Energy Investment Company Ltd. has awarded contracts to two Japanese-Russian Shipowning consortiums for the long-term time charter of three new-built LNG ships.

A contract for two ships went to a consortium consisting of Nippon Yusen Kabushiki Kaisha and JSC Sovcomflot, whilst a second Japanese-Russian consortium consisting of Mitsui O.S.K. lines Ltd, Kawasaki Kisen Kaisha, Ltd and Primorsk Shipping Corporation, was awarded a contract for one LNG ship.

The NYK Line/Sovcomflot consortium will have their two 147,200 m3 LNG ships constructed at Mitsubishi Heavy Industries with delivery scheduled for quarter 4 in 2007. The MOL/K Line/Primorsk Consortium will have their similar sized ship constructed by Mitsui Engineering & Shipbuilding for delivery by quarter 2 in 2008.

Under the conditions of the contracts, the three ships will have ice strengthening and will be designed to operate at low temperatures to allow them to make deliveries from Sakhalin Energy's LNG Plant at Prigorodnoye in Sakhalin's south all year round.

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