Regional LNG: MISC expands LNG shipping with new carrier contracts and PETRONAS deal

By Romel S. Gurky

LNG shipping firm  MISC Berhad (MISC), a unit of Malaysian national oil, gas company PETRONAS, announced on Tuesday the signing of shipbuilding contracts with Samsung Heavy Industries Co. Ltd. (SHI) for the construction of two new Liquefied Natural Gas (LNG) carriers, scheduled for delivery in 2027. The move is part of MISC’s strategy to modernize its fleet and reduce greenhouse gas emissions by 2030.

In parallel, MISC has signed a Letter of Intent (LOI) with PETRONAS LNG Sdn. Bhd. (PLSB) to provide long-term LNG shipping services. The agreement includes a 15-year time charter of the new LNG carriers. Additionally, MISC and PLSB have agreed to terminate the time charters of three existing LNG carriers and sign new charters for two others, extending their service until 2028.

Read also: Regional LNG: Mitsubishi strengthens LNG partnership with PETRONAS

MISC will establish wholly owned subsidiaries to own the new carriers, further strengthening its LNG shipping capacity. These transactions are expected to enhance MISC’s operational capabilities while supporting global energy demands.

Editing by Alexander Ginting