Friday 29 Mar 2024
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KUALA LUMPUR (Oct 2): Petroliam Nasional Bhd (Petronas) through its subsidiary Petronas LNG Sdn Bhd (PLSB) has awarded a 7,500 cubic meter liquefied natural gas (LNG) carrier time charter party to a joint venture (JV) involving MISC Bhd and UK-based Avenir LNG Ltd.

Avenir said yesterday in a news release Avenir and MISC will form a JV company to manage commercial operations of the LNG carrier whereas ship management services will be provided by Eaglestar Shipmanagement (L) Pte Ltd, a wholly-owned subsidiary of MISC.

"The vessel will provide bunkering to LNG fuelled vessels across Malaysia in addition to transport services for small-scale terminals in the region.

"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 the development of selected small-scale LNG projects," Avenir said.

MISC is a 62.67%-owned subsidiary of Petronas, MISC's annual report shows.

At the time of writing, MISC had not issued a statement on its JV with Avenir.

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