PETRONAS signs 20-year charter with MISC for 5 LNG carriers

PETRONAS, through PETRONAS LNG Ltd, signed a 20-year time charter agreement with MISC for 5 new LNG carriers, the companies said on Tuesday. ^{[1, 2, 3, 4]}

Each vessel will have a capacity of 174,000 cubic metres and will be built by Hudong-Zhonghua Shipbuilding in Shanghai, China. ^{[1, 2, 3, 4]}

The ships will use newer fuel-efficiency and emissions-related technologies, including XDF2.1 propulsion technology, shaft generators and onboard reliquefaction systems. PETRONAS executive vice-president and CEO of gas and maritime business Datuk Adif Zulkifli said, "The addition of these new LNG carriers marks another important milestone as we continue leveraging the collective strengths of our businesses to create long-term value across the LNG value chain." ^{[1, 2, 3, 4]}

MISC, which is 51%-owned by PETRONAS, will handle project management during construction and ship management after delivery. PETRONAS said the deal expands MISC’s role in supporting its LNG logistics network. ^{[1, 2, 3]}

The agreement’s value was not disclosed. Charter operations are scheduled to begin between 2029 and 2030. ^{[1, 2, 3, 4]}