History of BGT
- September 1972Original order of 125,000m3 LNG carriers by Burmah Gas Transport Limited (now renamed BGT Limited) from General Dynamics shipyard in Quincy Massachusetts.
- September 1973BGT signed the original Transportation Agreement with PERTAMINA, the national Oil and Gas Company of the Republic of Indonesia.
- January 1977United States government final loan approvals for construction.
- June 1977BGT takes delivery of its first LNG carrier LNG Aquarius.
- August 1977LNG Aquarius begins service to PERTAMINA under the Transportation Agreement, and the first cargo ever produced and loaded at the Bontang terminal was carried by LNG Aquarius to Senboku terminal, Osaka, Japan.
- 1977 to 1979LNG Aries, LNG Capricorn, LNG Gemini, LNG Leo, LNG Libra, LNG Taurus and LNG Virgo were constructed and delivered by GD to BGT. Each vessel immediately became a dedicated vessel under the PERTMINA Transportation Agreement for service from Bontang and Arun terminals to Japanese Western Buyers.
- 1977 to 1979Financing secured for $1.018 billion from US banks.
- May 1981LNG Aquarius is the 8th BGT vessel dedicated to the PERTAMINA trade.
- 1981 to 1983Vessel drydockings were transferred from Singapore to Japanese shipyards.
- 1985Home Doctor Agreements were finalized with Kawasaki Heavy Industries and Mitsubishi Heavy Industries.
- Mid 1980'sFleetwide ballast tank recoating program was initiated and completed.
- June 1989MOL and Nissho Iwai (now LNG Japan) purchase 50% shareholding in BGT from Burmah Castrol.
- 1994 to 1995Longevity study for the fleet initiated and completed, certifying that the vessels would provide safe and reliable transportation up to at least 2010.
- 1994 and 1996Refinancing of original US government supported debt to permit reflagging.
- July 1995Time charter extensions for 6 vessels executed with PERTAMINA to commence at the termination of the original Transportation Agreement.
- 1997 to 1999Refurbishment program initiated and completed for the vessels to comply with the previous longevity study.
- September 1997BGT signs time charter party with Brunei LNG for the employment of LNG Aries starting from 2000, from Brunei terminal to Japanese terminals.
- August 1998BGT signs time charter party with Hyundai Merchant Marine for the employment of LNG Aquarius starting from 2000, from Indonesia to Korea for service to Korea Gas.
- November 1998BGT hires PRONAV to replace the vessel operator.
- December 1998MOL and LNG Japan increase shareholdings in BGT to 100% (75%/25%).
- December 1999PERTAMINA Transportation agreement for 8 vessels terminates.
- January 2000PERTAMINA time charters for 6 vessels commences (LNGs Capricorn, Gemini, Leo, Libra, Taurus, Virgo), LNG Aquarius time charter with Hyundai commences, LNG Aries time charter with Brunei commences.
- July 2000BGT signs time charter party with Qatargas for the employment of LNG Aries starting from 2002, Qatar to Spain and/or Japan.
- Mid 2000Reflagging of 8 vessels from US to Marshall Islands flag and recrewing of the fleet to Croatian officers and Filipino ratings commences.
- February 2004BGT 8 vessel fleet carries its 4000th cargo, and in April 2005 BGT carried the 4000th cargo under service to PERTAMINA.
- June 2005Longevity study commenced to insure that the BGT fleet will provide safe and reliable transportation up to at least 2020.
- August 2005Condition Assessment Program conducted on board LNG Aries, resulting in a CAP hull rating of 1 and machinery/equipment rating of 2, both ratings the highest achievable.
- Mid 2006BGT expects to carry its 4300th cargo.
