Mitsubishi Corp expands Cameron LNG dedicated fleet

Mitsubishi Corporation on Thursday informed it plans to deploy a new LNG carrier for the Cameron LNG project in the United States. 

The vessel scheduled for delivery in 2019 will be built at the Mitsubishi Heavy Industries shipyard and will have a cargo capacity of 165,000-cbm.

The Sayaringo STaGE design vessel will be owned by Diamond LNG Shipping 3, a ship-owning joint venture formed between Mitsubishi Corporation, Toho LNG Shipping, Tohoku Electric Power and Nippon Yusen Kabushiki Kaisha (NYK).

Mitsubishi Corporation signed a shipbuilding contract in December 2015 with MI LNG Company, a shipbuilding JV between Mitsubishi Heavy Industries and Imabari Shipbuilding.

The company also signed a 19-year time charter party with its unit Diamond Gas International for the building of the new vessel as part of its efforts to secure carriers to transport LNG produced at Cameron LNG project.

Mitsubishi Corporation invested in Cameron LNG project through Japan LNG investments, a joint venture with NYK. Its share of liquefied natural gas produced by Cameron LNG will be sold to Toho Gas and Tohoku Electric.