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    China's Cosco Plans Three LNGCs for Arctic LNG 2

Summary

The three carriers will be jointly owned by Cosco and Japan's MOL.

by: Shardul Sharma

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China's Cosco Plans Three LNGCs for Arctic LNG 2

China’s Cosco Shipping Energy Transportation plans to spend $923mn to build three LNG carriers for the Arctic LNG-2 project, the company said on January 25.  

Cosco will operate the three carriers jointly with Japan Mitsui OSK Line (MOL). The two companies signed a contract with South Korea's Daewoo Shipbuilding & Marine Engineering last October for the construction of the three 172,500 m3 carriers.  The vessels are expected to transport LNG for the Arctic LNG 2 project upon delivery in 2023. 

The 19.8mn metric ton/year Arctic LNG-2's first train is due to start up in 2023, with its second and third scheduled for launch in 2024 and 2026.