Huntsman celebrates use of Araldite® in 100th LNG ship
Landmark LNG ship under construction by Samsung Heavy Industries
Hong Kong - Dec 4, 2006 (PRN):
Araldite® LNG adhesives from Huntsman Advanced Materials are being employed by world reputable shipyards, including Samsung Heavy Industries in the construction of a brand new Liquified Natural Gas (LNG) ship. The vessel is the 100th of its kind to employ Araldite® adhesives and to be built for use in the global LNG industry.
LNG ships are enormous ocean-going vessels that transport supplies of LNG between energy rich and power hungry countries. The global LNG market is experiencing a period of rapid growth. It is estimated that in 2006, Europe will import over 40 million tonnes of LNG to make up for short falls in domestic energy supplies.* To meet worldwide demand for the cost-effective delivery of LNG supplies, enormous industry containment ships are required to transport cooled LNG supplies thousands of miles.
Each ship has an average capacity of about 145k cubic meters (CuM) up to 264k CuM, and during construction requires in excess of 100 tonnes of specialist thixotropic industrial adhesive. These adhesives are typically used to create high performance, durable seals between the inside of LNG vessels and the internal insulation box that helps keep the gas stable at temperatures as low as -165ºc.
Huntsman has been providing material engineering adhesive and mastic solutions to the LNG sector since 1992. It has approval from major shipping organisations and industry specifiers including Lloyds Register and Gaz Transport & TechniGaz (GTT). It also has a dedicated team that works in close co-operation with the world’s leading LNG containment developers, shipyards and panel fabricators.
Commenting on Huntsman’s credentials for the LNG market and Samsung’s association with the company, Soohae Yea, Manager for the Shipbuilding Purchasing Section of Samsung Heavy Industries said, “We pride ourselves on building ships that are safe, environmentally-friendly and which satisfy customer demands for quality. Huntsman’s Araldite® products are the industry standard for LNG mastics and adhesives and are the obvious solution for us to use. Providing a one-stop shop for LNG companies like Samsung, Huntsman provides us with the technical know-how and a range of qualified products for use in containment vessels and at land storage facilities.”
Samuel Lau, Regional Director for Asia Pacific at Huntsman Advanced Materials said: “Samsung’s latest ship is the 100th of its kind to be built using Huntsman adhesives. This highlights the success of our products for LNG applications and our commitment to the current and future needs of the industry. Our products are underpinned by dedicated research and development projects plus global manufacturing capabilities.”
Continuing he said: “In 2006 we announced $10 million worth of investment in new reactors and packaging lines for the creation of LNG adhesives and mastics. As part of this investment, our LNG team is collaborating with industry partners to see how new tank designs and floating LNG terminals can benefit from the use of containment technologies like adhesives and mastics. We are delighted Samsung is using Araldite® adhesives to such great effect and look forward to leading the way in the creation of new engineering and material solutions for the LNG sector.”
In addition to its work with Samsung, Huntsman has ongoing initiatives with other major global shipyards.
*Statistics from US-based market analysts Waterborne Energy Inc
For further information or to arrange an interview with a representative from Huntsman, please contact Natalie Yates / Kim Bithel / Nick Tapper at Ware Anthony Rust on +44 (0) 1223 566 212 or by e-mail on natalie.yates@war.uk.com / kim.bithel@war.uk.com / nick.tapper@war.uk.com
About Huntsman
Huntsman is a global manufacturer and marketer of differentiated and commodity chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman today has 15,000 employees and 78 operations in 24 countries. The Company had 2005 revenues of $13 billion.
Statements in this release that are not historical are forward-looking statements. These statements are based on management’s current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company’s operations, markets, products, services, prices and other factors as discussed in the Huntsman companies’ filings with the Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technological factors. Accordingly, there can be no assurance that the company’s expectations will be realized. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.
For more information, contact:
Samuel Lau
Email: samuel_lau@huntsman.com
