Malaysia's Petronas to Buy its Own Newbuild LNG Ships

MarineLink.com
Monday, August 05, 2013

Petronas says that as part of its strategy to optimise the value of its liquefied natural gas (LNG) business, it has decided to directly procure newbuild LNG ships to meet its LNG transportation requirements.

The move will allow Petronas to have direct access to LNG shipping capacity at the lowest possible costs.

The company adds that they will be engaging MISC Bhd to provide Project Management and Technical Consultancy services for the construction of the new LNG ships, given MISC’s extensive experience and expertise in the LNG shipping sector and familiarity with Petronas’ business needs.
 
Petronas was incorporated on 17 August 1974 as the national oil company of Malaysia,  vested with the entire ownership and control of the petroleum resources in the country. It has since grown from merely being the manager and regulator of Malaysia’s upstream sector into a fully integrated oil and gas corporation, ranked among the FORTUNE Global 500® largest corporations in the world.

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

OGX lands $73 Mln loan

Bankrupt Brazilian oil company Óleo and Gás Participações SA, formerly known as OGX, has obtained a $73.2 million loan to finance exports and related costs, the

Zamakona to Build Tug for HPC

Haifa Port contracts 70 t Voith Tug with Zamakona Yards Haifa Port Company (HPC) has awarded the international tender for a new build Voith Schneider tug to Zamakona Yards.

US Retailers Urge Speedy W. Coast Labor Contract Negotiations

The National Retail Federation (NRF) informs it has urged maritime management and the union representing dockworkers along the U.S. West Coast ports to expedite

Shipbuilding

OSC Plans Fleet Expansion through 2018

State-owned Oman Shipping Company SAOC (OSC) is projecting to expand its current fleet of 43 ships to 50 by 2018, the Oman Daily Observer reported. According to the report,

Zamakona to Build Tug for HPC

Haifa Port contracts 70 t Voith Tug with Zamakona Yards Haifa Port Company (HPC) has awarded the international tender for a new build Voith Schneider tug to Zamakona Yards.

New Joint Venture Targets Nuclear Industry

International maritime logistics expert Cory Logistics, part of Braemar Shipping Services plc, has formed a joint venture with universal supply chain specialist

LNG

Ukraine launches restricted operation

Ukrainian forces launched a "special operation" on Tuesday against separatist militia in the Russian-speaking East, authorities said, although aside from a landing

OSC Plans Fleet Expansion through 2018

State-owned Oman Shipping Company SAOC (OSC) is projecting to expand its current fleet of 43 ships to 50 by 2018, the Oman Daily Observer reported. According to the report,

LNG Bunkering Will Develop Fast - LR Study

Lloyd's Register’s (LR) LNG Bunkering Infrastructural Survey 2014 indicates that major ports around the world are either planning for, or are anticipating, the wide-scale development of LNG bunkering.

Logistics

Med Urals Market Awaits Short May Loading Schedule

Activity in the Russian Urals crude market froze on Tuesday as traders said they were awaiting the first loading dates for May for signs of how much supplies from

New Joint Venture Targets Nuclear Industry

International maritime logistics expert Cory Logistics, part of Braemar Shipping Services plc, has formed a joint venture with universal supply chain specialist

Miami Shipping Alliance Opposes Beckham's Soccer Arena Plan

An alliance of shipping interests and a billionaire car dealer launched a newspaper ad on Monday protesting retired English soccer star David Beckham's plans for a soccer arena at the port of Miami,

Offshore Energy

Med Urals Market Awaits Short May Loading Schedule

Activity in the Russian Urals crude market froze on Tuesday as traders said they were awaiting the first loading dates for May for signs of how much supplies from

BOEM Proposes GoM Oil and Gas Lease Sale

As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, Bureau of Ocean Energy Management (BOEM) Director Tommy P.

North Sea Traders Eye VLCCs to Asia, Libya Caps

North Sea Forties crude differentials firmed on Tuesday as traders eyed two potential VLCC shipments to Asia, though gains were capped as the first cargo of Libyan

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1085 sec (9 req/sec)