OSLO (Reuters) - Norwegian shipper BW Gas Limited said on Tuesday that it had received ""conditional price indications"" for its LPG (liquefied petroleum gas) fleet of about 40 ships from interested buyers.

Shares in BW Gas jumped on the announcement, and were up 10.43 percent to 58.25 crowns by 0725 GMT, valuing the group at about 7.18 billion Norwegian crowns ($1.40 billion).
An analyst said the LPG fleet holds about half of the company's value.
BW Gas owns, part-owns and/or operates a fleet of nearly 80 vessels, including newbuilds. About half of the fleet consist of LNG (liquefied natural gas) carriers, according to its website.
“The board of directors will in the near future consider whether the company is interested in entering into a process of elaborating on the price indications,” BW Gas said in a statement.
Chief Executive Jan Haakon Pettersen told Reuters that he expected a decision to be made in about two weeks, but declined to give any more details about the price.
“We felt it was right to inform Oslo Bourse. We think there have been some rumours,” Pettersen said.