Wärtsilä to supply engines for four LNG carriers

Wartsila Corporation
  • Stock exchange release
24 November 2004 at 2:01 AM FLE Standard Time

Wärtsilä Corporation STOCK EXCHANGE RELEASE 24 November 2004, at 14.15

Wärtsilä has been contracted to supply altogether sixteen dual-fuel engines for four liquid natural gas (LNG) carriers under construction at the Korean Hyundai Heavy Industries Co. Ltd. shipyard for the British company BP Shipping. The engines will have a total power output of approx. 240 MW. The vessels are scheduled for completion in the second half of 2007. Wärtsilä’s order includes an option to deliver the engines for a separate series of four LNG carries in the future.

For Wärtsilä this order signifies a major breakthrough in the growing market for LNG carriers. The company’s first reference in this market is an electric propulsion system for an LNG carrier owned by Gaz de France and soon to be completed at the Chantiers de l’Antlantique yard in France. Wärtsilä currently has dual-fuel propulsion systems for altogether seven LNG carriers either on order or in the process of being delivered.

“The dual-fuel-electric machinery concept offers significant benefits compared to classical technology. The engines’ emission levels and operating costs are lower than in the case of steam turbines. A dual-fuel engine runs primarily on natural gas but has the option of heavy fuel oil as a backup fuel. As fuel prices fluctuate, fuel flexibility gives ship operators greater control over operating costs,” says Mr Mikael Mäkinen, Group Vice President at Wärtsilä’s Ship Power business.

Delivery of the sixteen Wärtsilä 50DF engines will commence from Wärtsilä’s Trieste factory in Italy at the beginning of 2006.

Further information: Eeva Kainulainen, Vice President, Corporate Communications, tel. +358 10 709 5235