Photo: Illustration only (Courtesy of Petronas Yamaha Sepang Racing Team)

Petronas expands LNG fleet with charters for HLS trio

Malaysian energy giant Petronas has put pen to paper to its LNG fleet expansion deal with South Korea’s Hyundai LNG Shipping.

Petronas expands LNG fleet with charters for HLS trio
Illustration only (Courtesy of Petronas Yamaha Sepang Racing Team)

Under the agreement, Petronas will charter HLS’ 174,000-cubic meter newbuilds. As a result, Hyundai LNG Shipping has placed an order with Hyundai Heavy Industries for the construction of the three vessels.

Upon completion, these vessels would be amongst the most energy-efficient LNG carriers ever built, with shaft generators powered by LNG.

These vessels will also be fitted with air lubrication systems that reduce hull resistance and are designed with an optimised hull design that reduces aerodynamic drag at sea

The newbuild vessels are expected to be delivered from the second quarter of 2024 on a staggered basis and will primarily be used to lift cargoes from LNG Canada, Petronas said in its statement.

With these vessels, Petronas has grown its global LNG fleet from 24 to 27 covering small, medium and large-sized vessels.

To date, Petronas has delivered over 11,500 LNG cargoes across the world.