Request Aid To Build Four LNG Carriers At Cost Of $800 Million
The Maritime Administration has received applications from four wholly owned subsidiaries of Tenneco Inc., P.O. Box 2511, Tenneco Building, 1010 Milam Street, Houston, Texas 77001, for Title XI guarantees of obligations. The companies — Shipping Ventures, Inc. I, II, III, and IV — have each applied for one guarantee to aid in financing the construction of one 125,000-cubicmeter liquefied natural gas (LNG) vessel.
Each vessel is to have an approximate overall length of 948 feet, a beam of 135 feet, and a full load draft of 36 feet. They are to have a service speed at full load displacement of 19 knots and a crew of 31, plus five miscellaneous spares. The 63,460-dwt vessels will each be driven by one steam turbine with a rated horsepower of 40,000.
J.J. Henry Co., Inc., Two World Trade Center, Suite 9528, New York, N.Y. 10048, and Energy Transportation Corporation, 540 Madison Avenue, New York, N.Y. 10022, will serve as marine architects. A shipbuilder has not yet been selected for this project. The four proposed vessels, along with four others to be Algerianowned and registered under foreign flag, are to transport lique- liquefied natural gas from Arzew, Algeria (or other ports in Algeria) , to Saint John, New Brunswick, Canada. At a vaporization plant near Saint John, the LNG will be regasified. A major portion, if not all of the gas will then be transported by pipeline to the United States for consumption within this country.
The estimated actual cost of the vessels is $201,155,400 each.