Petronas LNG, a subsidiary of Malaysia's state energy company Petronas, has signed a 20-year time charter agreement with the MISC Group for five new liquefied natural gas carriers. This move strengthens the Malaysian energy firm's long-term LNG supply capabilities.
The agreement covers five LNG carriers, each with a capacity of 174,000 cubic meters, to be constructed by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. in Shanghai, China. The charters are expected to commence between 2029 and 2030.
These vessels will be equipped with XDF2.1 propulsion technology, shaft generators, and onboard reliquefaction systems, designed to enhance fuel efficiency and manage boil-off gas.
MISC will oversee project management during the construction phase and will be responsible for the vessels' operations and management following delivery.
This charter agreement follows the shipbuilding contract signed earlier this year between MISC and Hudong-Zhonghua.
Datuk Adif Zulkifli, Executive Vice President and CEO of Gas & New Energy at Petronas, stated: "These additional LNG carriers represent another significant milestone in our continued effort to leverage the collective strengths across our business segments and create long-term value along the LNG value chain."
"By aligning our growth vision with MISC's maritime expertise, we are reinforcing the integrated capabilities that underpin Petronas's position as a trusted and reliable global LNG supplier."
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