Petronas seals 20-year deal with MISC for newbuild LNG vessel quintet

May 12, 2026, by Melisa Cavcic

Malaysia’s owner and operator of offshore floating and energy-related maritime solutions and services MISC Group, a member of the Petronas Group of Companies, has struck a multi-year charter with Petronas LNG Ltd. (PLL), a subsidiary of Petronas, for five newbuild liquefied natural gas (LNG) carriers (LNGCs).

Illustration; Source: Petronas — Illustration; Courtesy of Petronas

PLL has signed a 20-year time charter agreement with MISC for five newbuild 174,000-cbm LNG carriers, which will be constructed in Shanghai, China, with charter commencement expected between 2029 and 2030. This move is perceived to reinforce Petronas’ long-term LNG supply reliability, while supporting customers’ energy transition towards a lower-carbon future.

The deal was signed by Ezran Mahadzir, Chief Executive Officer of Petronas LNG, and Hazrin Hasan, MISC Vice President of Gas Asset and Solutions, following the conclusion of shipbuilding contracts between MISC and Hudong-Zhonghua Shipbuilding in January and February 2026.

These vessels are expected to incorporate modern and efficiency-driven technologies aligned with evolving environmental and operational standards, including the latest XDF2.1 propulsion technology, shaft generators that enhance fuel efficiency during voyages, and an onboard reliquefaction plant to effectively manage boil-off.

Datuk Adif Zulkifli, Petronas’ Executive Vice President & Chief Executive Officer of Gas & Maritime Business, commented: “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.”

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MISC is set to provide project management services throughout the shipbuilding phase, followed by operation and ship management of the vessels upon delivery, beginning in 2029, to ensure greater operational continuity and reliability from construction to commercial operations.

The companies’ collaboration is interpreted to reflect Petronas’ continued focus on strengthening the resilience and reliability of its LNG supply chain through strategic partnerships, while contributing to the advancement of Malaysia’s energy and maritime capabilities.

This deal comes shortly after MISC Group confirmed the naming of two new-generation LNG vessels, which bolsters its partnership with ExxonMobil’s SeaRiver Maritime (SRM).