Growing LNG Trade Spurs Development of Larger Vessels

The prospect of longer voyages and increasing international demand for imported natural gas may translate into larger LNG vessels in the future. According to Oil Daily from March 24, some companies are looking into building tankers that are twice the size of current 138,000 m3 vessels because of anticipated economic savings. “The percentage of savings is not linear with ship size, but it’s not too far off either,” said an unnamed LNG shipbroker. Energy giants such as Woodside ConocoPhillips, Gazprom and Qatar’s RasGas are considering the use of larger ships, including ConocoPhillips’ expressed interest in ships between 350,000 m3 and 400,000 m3 . [Subscription required]

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