Petronas and K Line strengthen LNG-link
K Line has signed a long-term time charter contract of 12 years plus an extension option for the further 12 years from 2022 on. The agreement was concluded with Petronas LNG, a subsidiary of Petroliam Nasional Berhad (Petronas).
K Line has also executed shipbuilding contracts for 79,960 cbm LNG carriers with Hudong-Zhonghua Shipbuilding (Group) Co. (Hudong). These two newbuildings, with dual-fuel engines that use gas admitted at low pressure, will start shipping LNG from Malaysia (Bintulu) to Shenergy (Group), Shanghai, China, from 2022 on. These are the first long-term time charter contracts between Petronas and the carrier from Tokyo with newly built vessels.
The oil and gas company Petronas is also a global LNG producer supplying this fuel to more than 25 countries around the world. The company was the first global energy player to introduce the floating LNG concept in 2016. (mw)