Tsakos Energy Navigation looking at LNG fleet expansion

Image courtesy of Tsakos Energy Navigation

Greece-based shipowner Tsakos Energy Navigation is looking to expand its fleet of liquefied natural gas (LNG) carriers up to six vessels by 2020, according to its founder and chief executive Nikolas Tsakos.

The New York-listed company recently completed a 15-newbuilding programme which included one LNG carrier.

Tsakos currently owns two LNG vessels, the 2007-built NEO Energy and the 2016-built Maria Energy.

Answering a question about possible fleet expansion during the company’s annual results conference call on Monday, Tsakos highlighted LNG as the sector where the company could increase its presence.

“…I think one of the segments that we are looking to increase our presence and this was a very firm – we got a very firm decision from our board is on the gas side, on the LNG,” he said.

“We believe that LNG is a very good complementary feature to our existing fleet,” he said adding that he believes “it is a gas time” after the 15-newbuilding programme which included mainly crude carriers.


LNG World News Staff