Australia-listed Global Energy Ventures (GEV) is ready to award shipbuilding contracts for four new compressed natural gas (CNG) carriers. It said it had received “comprehensive technical specifications” from three shortlisted shipyards to construct the new CNG 200 Optimum design. The unnamed yards had until the end of March to come back with their plans.
GEV’s shipping team, led by non-executive director Jens Martin Jensen, will now complete an evaluation of each specification.
Jensen, the former Frontline boss, said: “We are pleased with the three shipyards’ submissions and that the target date for delivery was achieved on time.
“Updated pricing and ship construction schedules will now be the focus in the June quarter.”
Shipbroker Clarksons Platou will work with the company, together with SeaQuest Marine Project Management, on finalising specifications and yard selection.
GEV remains on track to complete all pre-construction activities and award contracts to yards by the end of this quarter, it said.
Multiple projects pursued
Its stated aims are to pursue multiple CNG projects to improve the probability of success, secure access to strategic gas resources and bring in world-class staff.
GEV chairman and CEO Maurice Brand said: “The technical specification provided from three credentialled shipyards combined with the full American Bureau of Shipping approval received in January 2019 is having a material positive impact on our CNG project development activities.”
CNG is gas stored under pressure and, unlike LNG, does not require complex and expensive liquefaction facilities, GEV said.
The Optimum design maximises the amount of CNG that can be stored within the hull of a ship, using a containment system built using close-packed, high strength pipes that run the entire length of the ship’s cargo hold.
“The invention of a mechanism to clamp these gas storage pipes so tightly together that they become locked together as one allows this design to meet all classification requirements,” it said.