07/31/00
REPSOL YPF/ GAS NATURAL SDG SIGN HARTERAGECONTRACTS TO FREIGHT TANKERS FOR THE TRANSPORTATION OF LIQUEFIED NATURAL GAS (LNG)
 

The CEO of Repsol YPF, Alfonso Cortina, the Deputy Advisor of E.N Elcano, Juan Cordeiro, Trygve Seglen, the General Director of Knutsen, and the Commercial Manager of N.F. Tapias, Andr�s Luna, have signed today charter contracts to freight three tankers for the transportation of liquefied natural gas, each one with a capacity of 138,000 cubic metres,  two of which will be for Gas Natural SDG.

The charter contracts, for an initial duration of 20 years, are for LNG transportation from Trinidad and Tobago to Spain. During this period of time each vessel will make 360 trips, transporting 29 bcm, 1'5 times the amount of gas consumed in Spain at the present time.

The vessels must be available during a spaced period of time of 36 months. They will be built by AESA (Astilleros Espa�oles) in the shipyard's of Sestao and Puerto Real. The signing of the building contracts between the shipowners and AESA has also taken place today.

The size of these vessels is the largest known in world as of today. They have 284 metres length and their design allows docking in any loading port prepared for it. These are high-speed freighters, which reach service speed of 195 knots. They are propelled by vapour turbines with the power of 28000 kW.

LNG marine transportation is the main key in the gas supply chain. This contract allows the Company to be among the first in the world by fleet, due to the number and modern construction of its vessels.

The signing of the charterage contracts took place today at Repsol YPF headquarters in Madrid.