PETRONAS, through its unit PETRONAS LNG Ltd (PLL), has signed a 20-year time charter agreement with MISC Bhd for five new liquefied natural gas (LNG) carriers.
In a statement, PETRONAS said the vessels, each with a capacity of 174,000 cubic metres, will be built by China’s Hudong-Zhonghua Shipbuilding Group in Shanghai under shipbuilding contracts concluded earlier this year by MISC.
(From left) MISC president & group CEO Zahid Osman, MISC vice-president of Gas Assets & Solutions Hazrin Hasan, PETRONAS executive vice-president & CEO of Gas & Maritime Business Datuk Adif Zulkifli, PETRONAS LNG Ltd CEO Ezran Mahadzir, and PETRONAS vice-president of LNG Marketing & Trading Shamsairi M Ibrahim.
Charter operations are scheduled to commence between 2029 and 2030.
PETRONAS executive vice-president and CEO of gas and maritime business Datuk Adif Zulkifli said the addition of the new LNG carriers marks an important milestone in strengthening collaboration across the LNG value chain.
The financial value of the agreement was not disclosed.
MISC, which is 51%-owned by PETRONAS, will manage project supervision during the construction phase before taking over full vessel operations and management upon delivery.
The new LNG carriers will be equipped with fuel-efficient and emissions-reduction technologies, including XDF2.1 propulsion systems, shaft generators and onboard reliquefaction systems to manage boil-off gas.
PETRONAS said the deal strengthens MISC’s role in supporting its LNG logistics network as it continues to expand its gas and maritime solutions portfolio.
