MISC, consortium partners ink landmark deal with Qatar Energy

by SHAFIQQUL ALIFF / pic source misc.com.my

MISC Bhd, through a consortium partnership with Nippon Yusen Kabushiki Kaisha, Kawasaki Kisen Kaisha Ltd and China LNG Shipping (Holdings) Ltd, has been awarded long-term time charter parties by Qatar Energy for seven newbuild liquefied natural gas (LNG) carriers to be built by Hyundai Heavy Industries Co Ltd.

Qatar Energy is one of the world’s largest producers of LNG.

MISC said the seven newbuilding vessels, which will be delivered by 2025, will serve the needs of Qatar Energy in the transportation of LNG to various countries around the world.

These LNG carriers will be equipped with eco-efficient technologies such as X-DF 2.1 engines with Intelligent Control by Exhaust Recycling System and Air Lubrication System, which will contribute to the reduction of greenhouse gas emissions.

MISC president and group CEO Datuk Yee Yang Chien expressed his gratitude to be part of the multinational collaboration, combining the company’s decades of experience, knowledge and expertise in the safe, efficient and reliable transportation of LNG to support Qatar Energy’s aspirations.

“We remain committed to promoting a sustainable future for the LNG industry and we believe that strategic partnerships and collaboration remain the key to achieving and maintaining the industry’s growth and success in the long term,” he said in a statement today.

MISC is currently one of the largest single-owner-operators of LNG tankers in the world with a distinguished reputation for overall operational excellence, reliability, safety and on-time cargo deliveries.

At present, its Gas Assets and Solutions fleet comprises 30 LNG carriers, six very large ethane carriers and two LNG floating storage units with a combined deadweight tonnage capacity of over two million tonnes.