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January 30 & 31, 2002

January 11, 2002

Sea Marshal escort for LNG ship
SEA MARSHALLS PATROL POLAR EAGLEArmed U.S. Coast Guard members escorted the LNG carrier Polar Eagle into Nikiski, Alaska, Wednesday, as part of the Coast Guard’s Sea Marshal program.

The Coast Guard conducts planned and random vessel security boardings in Alaska.
The Sea Marshal program in Alaska provides deterrence and assesses vessel and terminal security. The presence of armed Coast Guard personnel augments vessel security measures and helps the master and transit pilot maintain control of the vessel, and offers an immediate response if a problem occurs.

Kvaerner takes shipbuilding back into the fold
Shipbuilding is no longer a wretched step-child within the Kvaerner Group organizational structure. No more an unwanted "other activity" slated to be sold off, shipbuilding is now a fully recognized "separate business area."

In a reorganization plan unveiled today, Kvaerner also announced that the structure of the parenet Kvaerner ASA is being simplified by having all support functions reporting to a newly created position of Chief of Staff.

The changes to the corporate structure are "natural consequences" of the previously announced decision not to sell either the shipbuilding or pulp and paper division said Kvaerner's President & CEO, Helge Lund.

Lund said that, under the reorganization, "Each business area will havesignificant operational freedom and a clearly-defined responsibility to pursue its strategy. The reorganization of the parent company with a smaller management team reflects a desire to establish clear lines of responsibility
and decision-making."

The parent company's senior management structure will consist of the CEO, the CFO and the newly created position of Executive Vice President, responsible for staff functions (Chief of Staff.) Relocation of the parent company's head office from London to Lysaker, outside Oslo,Norway, is continuing as planned, and will be completed by the end of the
first quarter.

Trond Westlie, currently CFO at Aker Maritime, will move to Kvaerner and take up the position of CFO. Finn Berg-Jacobsen, who has been Kvaerner's Acting CFO since September 2001, has been appointed Chief of Staff.

Sverre Skogen, currently CEO of Aker Maritime, has been appointed to head Kvaerner's Oil & Gas business area once the merger with Aker Maritime has been completed.

Jan T Jørgensen, "who," says the company, "has been leading Kvaerner Oil & Gas through a positive development during the last couple of years, will continue to head this business and will remain a member of the integration steering committee until the merger has been completed. At that time, Mr Jørgensen will continue working for the Kvaerner Group in an advisory capacity for a period of time.

Following these changes, Kvaerner's corporate management team will comprise:

  • Helge Lund, President & CEO
  • Trond Westlie, Chief Financial Officer
  • Finn Berg-Jacobsen, Chief of Staff
  • Keith Henry, President, E&C
  • Sverre Skogen, President, Oil & Gas
  • Hans Petter Finne, President, Shipbuilding
  • Athol Trickett, President, Pulp & Paper
  • Geir Arne Drangeid, currently Vice President, Corporate Communications at Aker Maritime, will assume the corresponding function at Kvaerner. He will report to Finn Berg-Jacobsen, but will attend meetings of the corporate management team.

BV approves new LNG containment concept
Classification society Bureau Veritas has awarded concept approval to CS1, a new membrane containment system developed by Gaztransport and Technigaz (GTT) for the transportation by sea of Liquefied Natural Gas (LNG).

Concept approval is the final step before the concept itself is applied to the vessel, prior to full classification or certification by Bureau Veritas.It confirms that design is consistent with all applicable rules and other relevant criteria.

The CS1 containment system takes advantage of recent significant improvements in methods of calculation. It is being characterized as "a major advance" on previous systems,and is the result of experience accumulated over the past forty years.

Techniques used to develop CS1 have benefited greatly from an in-depth knowledge of existing systems, including a clear understanding of the performance of materials such as foam, plywood, mastics and triplex, as used in the Mark III technique, and an accurate knowledge of the fatigue behavior of Invar, as used in the NO 96 technique. In addition to maximum safety in extreme operating conditions, CS1 takes into account both reliability and cost, and is designed for quick assembly with a high percentage of prefabricated elements.

CS1 complies with all IMO requirements, and has been designed in accordance
with a forty-year North Atlantic operational lifespan. It allows also for the partial loading of LNG cargoes, providing detailed sloshing analysis for partially filled tanks to any cargo loading level.

In Paris yesterday, Bernard Anne, managing director of BV's marine division, presented a certificate of approval to GTT chairman Jacques Dhellemes, who said, "BV's marine department has a long-standing involvement with GTT's work on LNG cargo containment systems. The concept approval certificate awarded by BV to our containment system is a result of the well-established co-operation which exists between GTT and BV, working together in partnership.

"This co-operation has been especially effective over the past three years in terms of liquid motion analysis, with GTT membrane containment systems being validated for partial filling levels, and LNG and FPSO concepts being developed using risk-based procedures taking direct account of the external
and internal loads on Finite Element Modelling."