The vessels will be part of an LNG fleet being formed by the government to transport gas for Spain’s Union Fenosa. The Spanish utility has signed an agreement to take 50 per cent of the output of a proposed 3.2 million-tonne-a-year third LNG train in Sur. Deliveries are due to begin in 2006 (MEED 27:9:02; 12:7:02).
Union Fenosa says it requires at least three tankers to convey gas to Spain on a carriage insurance and freight (cif) basis. In early 2002, the government acquired a 40 per cent stake in Greenfield Shipping Companyand with it the Lakshmi LNG tanker (MEED 26:7:02, Cover Story).