China LNG units sign nine LNG cooperation deals

China LNG Finance Leasing Company and China LNG Investment (Shanghai), both units of China LNG, entered into nine strategic cooperation agreements.

According to a company statement, deals were signed with Jiangsu Dajin Heavy Industries, Jiangsu An Shun Shipbuilding, Jiangsu Jiangbei Ship Industry, Jiangsu Qinfeng Shipbuilding, Pizhou City Dongfang Ship Repairing and Building, Pizhou City Suhang Shipping, Jiangsu Hehai Shiping, Wuhu Hongri Shipping, Honghua Marine Oil and Gas Equipment (Jiangsu) in relation to the provision of finance lease services for LNG vessels, the manufacturing of LNG vessels, the transformation and modification of ordinary vessels into LNG vessels and the construction of LNG and clean diesel fuel refueling stations for developing the LNG businesses in the PRC.

Under the nine deals, CLNG Finance agrees to provide a finance lease credit limit up to the amount of RMB1,000 million, RMB200 million, RMB200 million, RMB1,000 million, RMB200 million, RMB300 million, RMB500 million, RMB300 million, RMB2,000 million to the customers of Dajin, An Shun, Jiangbei, Qinfeng, Dongfang, Suhang, Hehai, Hongri and Honghua, respectively, for the manufacturing of LNG vessels or the transformation and modification of vessels from using diesel fuel into using LNG.

All companies agreed to invest together with CLNG Investment in the construction of LNG refueling stations and docks along the coastline where each company is allowed to operate.

CLNG Finance also agreed to provide all assistance and support to its partners in applications for licenses required for engaging in the construction of LNG refueling stations.

LNG World News Staff