GAC secures worldwide agency contract with BG LNG Services

Published February 11th, 2007 - 02:31 GMT

Dubai: GAC, a world leader in global shipping, logistics and marine services, has been appointed as the sole provider of hub agency services for the worldwide LNG fleet of BG LNG Services, a subsidiary of BG Group plc.

The new contract was signed December 11, 2006 by Tom Nasman, President and CEO of GAC Shipping (U.S.A.) Inc. and Allyn Risley, Vice President of Global LNG Shipping for BG LNG Services, LLC.


Expressing his delight with BG’s decision to entrust GAC to handle its worldwide agency requirements, GAC’s Tom Nasman says, “We have been working closely with the BG Group for the last four years. We look forward to increasing our involvement with BG and supporting the company in its global LNG business growth.”

This new Hub Agency Agreement will see GAC providing hub and port agency services and a host of other value-added solutions such as ship spares logistics covering the movement of LNG cargoes around the world. In particular, many gulf countries such as Kuwait, Qatar and UAE are poised to dramatically increase production of natural gas in the coming years.

GAC-RUR’s President Bob Bandos, who was also present at the signing ceremony says “GAC will focus on providing BG with a tailored list of shipping services based on efficiency and safety amongst other key performance indicators, and drawing upon our vast LNG market expertise.” GAC currently handles approximately 70 per cent of all LNG imports in the US.

The LNG market represents a major growth area for GAC, adds Mr. Bandos. Natural gas is in demand around the world for both the economic and the environmental benefits that it can provide.

Besides being active in the LNG market in the US, GAC is also serving as global hub and shipping agent for several LNG majors such as Qatar’s RasGas and Oman Ship Management Company. In addition, through its recent alliance with Norwegian ship agency Ole R Olsen, the company is starting to gain a foothold in the LNG market in Norway.

About the GAC Group
The GAC Group (GAC) is the world’s largest independent shipping, logistics and marine services provider, with over 250 offices worldwide.

Estabished in 1956, GAC’s core business covers three key areas – shipping, logistics and marine services. The GAC brand reflects value for money, quality, continuity, innovation and global reach.

GAC employs more than 7,000 people worldwide. The GAC Group corporate head office is in Dubai, in the United Arab Emirates.

For more information about GAC, visit www.gacworld.com

About GAC Shipping
GAC Shipping is a leading provider of global port and hub agency services.

In addition to ship's agency, GAC Shipping offers an extensive range of specialised services such as Bunker Supplies, Ship-to-Ship Transfers, Canal Transit and Ship Supply Services. GAC Shipping also acts as correspondents for most International Group P&I Clubs.

GAC Shipping today represents the interests of more than 3,500 Principals worldwide and attends to over 30,000 vessels annually.

BG Group
BG Group plc is a global natural gas business. Active on five continents in 25 countries, it operates four business segments – Exploration and Production, LNG, Transmission and Distribution and Power.
BG charters five ships from Golar LNG (Hill, Gimi, Khannur, Golar Freeze and Methane Princess).  In 2004, BG took delivery of Methane Kari Elin – cargo capacity of 138,200 m3 – from Samsung Heavy Industries and in 2006 BG received three 145,000 m3 LNG vessels; these ships were also built by Samsung Heavy Industries and include: Methane Rita Andrea, Methane Jane Elizabeth and Methane Lydon Volney. In 2007, an additional four vessels with cargo capacities of 145,000 m3, each, are due for delivery.  These ships are also being built by Samsung Heavy Industries.
A full breakdown of BG’s LNG shipping, liquefaction and regasification portfolio can be found at:
http://www.bg-group.com/international/LNG_table_06.htm

 


© 2000 - 2021 Al Bawaba (www.albawaba.com)

You may also like