In a move to advance Malaysia’s ambitions as a regional LNG bunkering hub, state-run energy giant Petronas has inked a time charter party deal with Avenir LNG Limited in collaboration with Malaysian International Shipping Corporation (MISC) Berhad for a 7,500-m3 LNG small-scale carrier
Avenir LNG is building four such small-scale LNG (ssLNG) carriers that will also have LNG bunkering capabilities. Two were ordered from Keppel Singmarine and two from Nantong CIMC Sinopacific Offshore & Engineering Co.
Under the charter agreement, the ssLNG carrier will provide bunkering to LNG-fuelled vessels across Malaysia and transport services for small-scale terminals in the region.
Through this collaboration, Avenir LNG and MISC, the shipping arm of Petronas, will form a joint venture company to manage the commercial operations of the LNG carrier, with ship management supplied by Eaglestar Shipmanagement, a subsidiary of MISC.
In view of their complementary global portfolios, Avenir and PLSB will offer multi-modal LNG bunkering solutions and provide further support for LNG-fuelled vessels. Additionally, both companies will collaborate on developing selected ssLNG projects.
Avenir LNG Limited chief executive Andrew Pickering said the time charter party agreement and wider co-operation with Petronas on bunkering and small-scale development was key to “opening up this new and exciting market.”
Last week, Petronas reported it had completed its third break-bulk LNG ship-to-ship transfer in Brunei Bay, off the port of Sabah, Malaysia.