19th to 21st of May 2020

Elcano attribute a part of the rent of the new Gas Natural LNG Carriers

The first Spanish ship owner presided by José Silveira, shares this contract with the Norwegian Group Knutsen - The amount of the transaction is around 600 millions Euros. Elcano, the first Spanish ship owner and the Norwegian company Knutsern, have attributed the rent service of four new LNG carriers for Gas Natural, according naval sector sources that calculated the contract at 600 million Euros. The Spanish gas company will use vessels to continue with the LNG import from United States of America (USA) to Asia.

The ship owner presided by José Silveira Cañizares and Knutsen would rach the final in the international tender through its subsidiary Stream, participated at 50% with Repsol and which is in charge of the management of the LNG fleet. The contract includes the construction of four LNG carriers and the benefit of the rental service during twenty years.

Both Elcano and Knutsen still provide a service to Gas Naturak through its subsidiary Stream, and in the International tender they would impose to a dozen of International ship owners. In Spanish ship owner case, its vessels Castillo de Villalba and Castillo de Santiesteban belongs to 16 LNG carriers fleet managed by Stream. The same happens with the Barcelona and the Ribera del Duero Knutsen. New LNG carriers will be probably built in Asia, where Corean, Japaneese and Chineese shipyards have been specialized in this market.

According Cinco Días, the tender award has "great relevance" for Gas Natural in the execution of its import project from USA. First shipments of LNG that will leave from Cheniere installations in Sabine Pass (Louisiana) will happen by the middle of 2016. Under the agreement established by both partners, Cheniere will provide to the Spanish company 5 bcm per year of LNG.
(Source: Faro de Vigo)

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