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Plans for coastal LNG carrier

June 25, 2003, 10:00 CEST

An invitation to tender for supplying a new vessel to carry liquefied natural gas (LNG) along the Norwegian coast is being issued by Statoil to the shipping industry.

The carrier would primarily be used to transport LNG from the group’s Melkøya liquefaction plant outside Hammerfest in northern Norway to reception terminals.

It will be chartered by the LNG Norge DA development venture established by Statoil.

This company aims to establish the commercial feasibility of supplying the domestic market via a small-scale chain of LNG terminals fed from the Snøhvit project in the Barents Sea.

LNG Norge is wholly owned by Statoil at present, but the aim is to involve distributors Naturgass Vest and Gasnor at a later stage. They would own 15 per cent apiece.

With a capital of NOK 10 million, the new company is intended to pursue business development.

Plans call for a decision on commercial operation in the second quarter of 2004, when the government will present a study on Norwegian gas supply to the Storting (parliament).

“We’re doing this to put ourselves in a position to invest in a coastal gas chain,” explains Gunnar Myrvang, vice president for gas and energy solutions in Statoil.

“We want to develop a company with a wholesale function in a future Norwegian LNG market.

“This is first and foremost an energy product, but it could also become competitive as an industrial feedstock.”

Further information from:

Gunnar Myrvang, vice president, gas and energy solutions, +47 90 54 01 31 (mobile)

Knut Hansen, press spokesperson, public affairs unit, +47 91 73 80 53 (mobile)