CNG Ship Gets Go-Ahead

Calgary-based Sea NG Corporation said the world's first compressed natural gas (CNG) ship has been approved for construction.

Sea NG said the American Bureau of Shipping had approved the fabrication of its Coselle CNG vessel that will "be deployed to carry moderate volumes of natural gas (30 million cubic feet to 500 MMcf) over medium distances (200 kilometres to 2000 kilometres), a segment of the marine gas transportation market that has not been economically served by pipelines or liquefied natural gas".

The Coselle is a unique, patented system, invented in Canada, for storing high-pressure gas in a coil of small diameter pipe, said Sea NG.

"Sea NG has a unique CNG system that we believe can open new gas markets in many regions, and we are excited about its commercial potential in a wide range of new project opportunities", said Clarence Tong of Mizuho Corporate Bank in New York, which is supporting some of the projects Sea NG is developing.

Another strong proponent of the Coselle system is Marubeni Corporation, one of Japan's leading international trading companies.