NYK to transport Nigerian LNG

NYK has concluded a long-term charter agreement for two 149,600 cubic metre membrane type LNG carriers with Nigeria LNG Limited and a shipbuilding contract for the new gas carriers with Samsung Heavy Industries. This is the first move for the NYK’s LNG Group to conduct business in Nigeria. Moreover, NYK is the first Japanese shipping company which has received an order of an exclusive LNG transportation project from an overseas company.

Delivery of the two new gas carriers is scheduled for June and August 2007. In July 2004, NYK concluded a long-term charter agreement for a newly built LNG carrier with Gaz de France and the Japanese shipping company continues to be proactive in expanding its overseas business in addition to its domestic business.

Nigeria, the world’s sixth largest LNG exporter, is a key supplier for the North American market where an extensive rise in demand is expected. In view of this trend, Nigeria LNG plans to further strengthen its business by adding three LNG liquefaction plants to its existing 3 operational plants, bringing the total to six, and 10 LNG charters to the current 14, increasing the total number of LNG charters to 24.