BGC Takes Delivery of Fifth LNG Carrier

zoomIllustration Brunei Gas Carriers Sdn Bhd (BGC) has taken delivery of its fifth liquefied natural gas (LNG) carrier MV Amadi, which is to be employed under a long-term charter to Brunei LNG Sdn Bhd. BGC, a joint venture company owned by the Brunei Government, Shell Gas B.V. and Diamond Gas Carriers B.V., ensured the delivery via USD 183 million Islamic financing facility. The finncing was provided by a syndicate of financiers consisting of Bank Islam Brunei Darussalam Berhad, Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad, HSBC and Sumitomo Mitsui Banking Corporation Europe Limited. MV Amadi, constructed by Korean shipbuilder Hyundai Heavy Industries Co., Ltd, is a 154,800 cm3 membrane-type LNG carrier. Watson Farley & Williams Asia Practice LLP (WFWAP) has advised BGC on the transaction. “This follows on the heels of the successful delivery of their fourth LNG A class vessel in November last year. The delivery of this latest vessel will certainly provide a platform for BGC to continue to develop as a first-class LNG owner and operator and we look forward to collaborating on future transactions,” said WFWAP partner Simon Petch. BGC provides LNG transportation services from Brunei to Japan, South Korea, Malaysia and Taiwan.