15 November 2007
On invitation from AP Moeller Maersk and Samsung Heavy Industries Co., Board Members of Yemen LNG Company participated on 22 October 2007 in a ceremony marking the laying of the keel of Hull 1625, which is another milestone in the progress of the Yemen LNG project. The event took place at the Samsung shipyards in Seoul, South Korea.

Hull 1625 is the sister ship of Hull 1608 which is also being constructed for charter to Yemen LNG. These two vessels will be part of a fleet of four LNG tankers delivering LNG from Yemen LNG’s terminal at Balhaf to Total Gas and Power Ltd’s receiving terminals in the United States of America. The other two vessels are being built in Nagasaki, Japan by Mitsubishi Heavy Industries.

Speaking on behalf of the Yemen LNG members attending the event, Yemen LNG Board Chairman and Minister of Oil and Minerals HE Khaled Bahah stressed that the timely completion and delivery of the vessels to meet Yemen LNG’s contractual commitment to its customer is of utmost importance. “Having seen the progress that is being made with respect to both vessels as we toured the yard”, Mr Bahah added, “I am confident that both vessels will be completed and delivered to Yemen LNG on schedule”.

The vessels will be delivered to Yemen LNG around March 2009 in good time to meet Yemen LNG’s contractual commitment for the start of deliveries to Total Gas & Power Ltd. Total Gas & Power Ltd is the only one of Yemen LNG’s buyers to purchase LNG on an ex ship basis and will start to receive cargoes after start up of the second train at the plant. The initial cargoes produced at the plant after start up of the first train are scheduled to be delivered to Kogas on an FOB basis using Kogas’ vessels.