MITSUI OSK Lines has signed a long-term charter contract for three newbuild LNG carriers, to be delivered in 2028.
The contract is between MOL and ENN LNG (Singapore), a subsidiary of Chinese energy company ENN Natural Gas.
The vessels will primarily be engaged in the transport of LNG to China, procured by ENN under a long-term purchase contract.
ENN reportedly supplies 10% of natural gas in China and operates a large LNG terminal in Zhejiang Province.
MOL said ENN had signed the contract following an evaluation of MOL’s track record in the LNG carrier business, its experience in building LNG carriers in China and its performance in safe cargo transport and operation of vessels.
“China is increasingly shifting its energy sources from coal and oil to natural gas in response to growing awareness of the need for a low-carbon, decarbonised society, and in 2021 became the world’s largest LNG importer for the first time,” MOL said in a statement.
“China’s LNG demand is expected to grow even more in the future.”
The shipping company said it is responding to the continual growth of the LNG market in China by developing its knowledge of the country.
