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    MISC charters two LNGCs to ExxonMobil

Summary

The agreement brings the total number of contracts with ExxonMobil to four LNGCs.

by: Shardul Sharma

Posted in:

Complimentary, Natural Gas & LNG News, Asia/Oceania, Liquefied Natural Gas (LNG), Security of Supply, Corporate, News By Country, Malaysia

MISC charters two LNGCs to ExxonMobil

Malaysia’s MISC on September 30 said its subsidiaries, Polaris LNG Three and Polaris LNG Four, have secured long-term time charter contracts with SeaRiver Maritime (SRM), a unit of ExxonMobil, for two more LNG carriers (LNGCs). The agreement brings the total number of contracts with SRM to four LNGCs.

MISC has also signed an agreement with an unnamed South Korean shipbuilder for the construction of the LNGCs. These 174,000 m3 carriers will be chartered by SRM for a period of 10 years. They will be equipped with X-DF 2.1 engines with intelligent control by exhaust recycling (iCER) system and air lubrication system which will contribute to the reduction of greenhouse gas (GHG) emissions, MISC said.

Eaglestar Shipmanagement Gas will be appointed to provide project management services during the shipbuilding phase, and to take charge of the operationalisation and ship management of the vessels when they are delivered in 2026.

In 2019, MISC secured 15-year time charter contracts for two LNG carriers from SRM. These vessels are currently under construction in South Korea and are slated for delivery in the first quarter of 2023.