EXMAR announced that along with its Indian consortium partners, namely, Varun Shipping Company Limited and Indian Oil Corporation Limited, it has been short listed by Petronet LNG Ltd for award of a (25 year) time charter agreement for one additional LNG ship for import of LNG, to meet the requirement of expansion of the Dahej Terminal (India).
The LNG tanker with a capacity of 156.100m³ and a Dual Fuel Diesel Electric propulsion system, will be built at the Korean shipyard of Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) for delivery in the last quarter of 2009. The consortium partners will establish a new joint venture company in India for owning and operating the LNG tanker.
For EXMAR, this transaction constitutes an important step in the realisation of its medium term ambition to provide integrated logistical services to expending gas markets such as India. In furtherance of these efforts, EXMAR has recently also signed an MOU with GAIL Ltd. (India) for the use of its onboard regassification technology for LNG imports to India as announced on November 22, 2005.
