Neptune LNG orders STL buoy system

Neptune LNG Llc. has awarded BW Offshore Ltd. (BWO) subsidiary, APL (Advanced Production & Loading) Plc., a $60-million contract to supply an LNG buoy system.

Offshore staff

BERMUDA -- Neptune LNG Llc. has awarded BW Offshore Ltd. (BWO) subsidiary, APL (Advanced Production & Loading) Plc., a $60-million contract to supply an LNG buoy system. The submerged turret loading (STL) buoy will be installed approximately 10 mi (16 km) offshore Massachusetts. Delivery is expected in May 2009.

LNG regasification vessels will be moored at the proposed Neptune deepwater port by means of the two-buoy STL system. The two separate buoys will ensure that natural gas can be delivered in a continuous flow by allowing a brief overlap between arriving and departing LNG regasification vessels.

The Neptune project will provide an average of 400 MMcf/d of natural gas – enough to serve 1.5 million homes daily, according to BWO. During periods of peak demand, Neptune can increase its delivery rate to 750 MMcf/d.

9/18/2007

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