Petronas of Malaysia to Directly Buy LNG Tankers

Petronas of Malaysia plans to directly purchase newbuild LNG tankers to bring down costs.

The company will hire its shipping unit MISC to provide project management and technical consultancy services for the construction of the new LNG vessels, Reuters informs.

“The move will allow Petronas to have direct access to LNG shipping capacity at the lowest possible costs,” Petronas said in a statement.

The company’s unit Pacific NorthWest LNG applied in July to the National Energy Board (NEB) of Canada for a license to export liquefied natural gas from its proposed LNG export facility in Port Edward, British Columbia.

Pacific NorthWest LNG has applied for a license to export up to 19.68 million tonnes of LNG per year for 25 years beginning in 2019.

[mappress]

LNG World News Staff, August 1, 2013; Image: MISC