Petronas by means of its subsidiary, Petronas LNG Ltd. (PLL) not too long ago signed a 12-year Time Charter Party (TCP), with an choice to increase for an additional 12 years, with a famend Japanese shipowner, Kawasaki Kisen Kaisha, Ltd (“Okay” Line) for 2 mid-sized new construct LNG vessels of roughly 79,960 cubic metres every in capability.
During the signing ceremony, Petronas Executive Vice President and Chief Executive Officer of Gas & New Energy, Adnan Zainal Abidin recommended the tempo of the procurement and chartering of those vessels which had been concluded inside 4 months, thus setting a brand new normal within the business.
This long run TCP is consistent with the signing of the shipbuilding agreements between “Okay” Line and Hudong-Zhonghua Shipbuilding (Group) Co. Ltd. whereby these vessels can be constructed in Shanghai, China, and anticipated to be delivered within the second quarter of 2022. These similar vessels can be devoted to serving Petronas’ long run LNG supply dedication to Shanghai underneath the brand new LNG provide settlement with Shenergy Group Company Limited (Shenergy).
The vessels often called Wuhaogou-Max (W-Max) are particularly constructed to totally optimise the supply of LNG cargoes to Shenergy’s Wuhaogou LNG terminal in Shanghai. The vessels are able to delivering totally laden cargoes throughout the channel’s permissible limits with out exceeding the port’s draught limitation.
The signing of the respective agreements between PLL and “Okay” Line for the TCP, along with the shipbuilding contracts between “Okay” Line, Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. and China Shipbuilding Trading Co., Ltd. had been witnessed by PETRONAS President and Group Chief Executive Officer, Tan Sri Wan Zulkiflee Wan Ariffin.
(Source: Petronas – Image: “Okay” Line)

The submit PETRONAS SIGNS 12-YEAR TIME CHARTER AGREEMENT WITH “Okay” LINE FOR TWO LNG VESSELS appeared first on Energy Global News.

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