Petronas LNG (PLL) has signed a 20-year time charter agreement with MISC Group for five newbuild liquefied natural gas (LNG) carriers as the Malaysian energy company strengthens long-term LNG supply capacity.
The agreement covers five 174,000-cubic meter LNG carriers that will be built by Hudong-Zhonghua Shipbuilding in Shanghai, China, with charter commencements expected between 2029 and 2030.
The vessels will feature XDF2.1 propulsion technology, shaft generators and onboard reliquefaction systems aimed at improving fuel efficiency and managing boil-off gas.
MISC will provide project management during the shipbuilding phase and will oversee operations and ship management after delivery.
The agreement follows shipbuilding contracts signed between MISC and Hudong-Zhonghua Shipbuilding earlier this year.
“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.
“By aligning our growth ambitions with MISC’s maritime expertise, we are strengthening the integrated capabilities that support Petronas’ position as a trusted and reliable global LNG supplier,” said Datuk Adif Zulkifli, Petronas' Executive Vice President and Chief Executive Officer of Gas & Maritime Business.