GUNSAN, SOUTH KOREA, July 24 /CNW/ - Sea NG Corporation, a leader in
compressed natural gas (CNG) shipping technology, inaugurated the site for the
production of its patented Coselle(TM) containers on Monday, July 21. The
facility, located in the Gunsan Free Trade Zone, South Korea, will be Sea NG's
primary global production site.
The 10 hectare facility will allow the automated construction of Coselles
to meet the worldwide demand for Coselle(TM) CNG ships. Marine Construction
Corporation (MCC), a wholly owned Korean subsidiary of Sea NG, anticipates the
facility will be in full production of the CNG containers by late 2009.
"This production site is a major milestone in the development of a new
marine CNG transportation industry," said Dave Stenning, President & CEO of
Sea NG. "It will allow us to begin construction of our fleet of Sea NG ships."
The Coselle(TM) container is used to transport in compressed form large
volumes of natural gas by ship. Fleets of Sea NG ships will deliver natural
gas to markets that have previously been physically inaccessible or uneconomic
The development of this production site will allow Sea NG and its
strategic partners, Marubeni Corporation and Teekay Corporation, to advance
CNG projects worldwide.
"There are many places in the world that require the marine
transportation of CNG, and Teekay and our alliance partners, Sea NG and
Marubeni, are ready to make that happen," said David Glendinning, President,
Teekay Gas Services.
The Coselle(TM) is a container that consists of 17 kilometers
(10.6 miles) of 168 mm (6") diameter steel pipe that has been coiled. Each
Coselle(TM) holds approximately 82,000 standard cubic meters (3 million
standard cubic feet) of natural gas. It was designed and tested over a period
of 10 years to meet stringent international safety standards.
"From a safety perspective the technical advantage of the Coselle(TM) is
that it uses coils of small diameter pipe rather than one large diameter
vessel. This allows each Coselle(TM) container to hold a large quantity of gas
while retaining the safety benefits and cost effectiveness of small diameter
pipe," said Robert Dick, Vice-President, Operations, Sea NG.
Sea NG's ships will each be able to accommodate between six and
84 Coselles. Coselle(TM) containers will be stacked within a ship's hold and
connected using a simple manifold and control system. Sea NG's C16 ship was
the first CNG ship in the world to be fully approved for construction - by the
American Bureau of Shipping in 2006.
Sea NG Corporation is a Canadian company focused on the commercial
development of marine CNG projects using its proprietary Coselle(TM) system.
For more information, please visit www.sea-ng.com.
Marubeni Corporation is one of Japan's leading international trading and
investment companies, conducting its operations through a global business and
129 offices in 71 countries. Marubeni is well known for its enterprise and
successful track record in the implementation of major capital projects
worldwide. For more information, please visit www.marubeni.com.
Teekay Corporation transports more than 10 per cent of the world's
seaborne oil and 15 per cent of the LNG imported into the United States. With
a fleet of more than 200 vessels, offices in 17 countries and 6,400 seagoing
and shore-based employees, Teekay provides a comprehensive set of marine
services to the world's leading oil and gas companies, earning them a
reputation for safety, quality and innovation. For more information, please
For further information:
For further information: Lyndon Ward, Marketing Director, (403)
444-7446, Sea NG Corporation, Suite 750, 101 - 6th Avenue S.W., Calgary,
Alberta, T2P 3P4, Canada Website: www.sea-ng.com