Bergesen To Buy LNG Carrier From Daewoo

Bergesen D.Y. ASA plans to buy a liquefied natural gas (LNG) carrier from South Korea's Daewoo Heavy Industries Ltd. for approximately $150 million, company officials said.

Under the preliminary agreement, the vessel would have a capacity of 138,000 cu. m. and be delivered in the first quarter of 2003, officials said. The final agreement is expected to be signed by early April 2000.

Bergesen will also have an option to order an additional LNG-carrier for delivery in the second half of 2003.