Petronas LNG and Avenir LNG form LNG bunkering JV
- Published
by Admin
Petronas, through its subsidiary, Petronas LNG Sdn. Bhd. (PLSB) on Tuesday (1 October) awarded a time charter party (TCP) to Avenir LNG Limited (Avenir) and MISC Berhad (MISC) for the operation of its first 7,500 cubic metre (cbm) liquefied natural gas (LNG) carrier.
The vessel will provide bunkering to LNG fuelled vessels across Malaysia in addition to transport services for small-scale terminals in the region.
Through this collaboration, Avenir and MISC will form a joint venture company to manage the 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.
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.
“We are delighted to have partnered with MISC to provide our first 7,500 m3 LNG ship to PLSB to help start the bunkering activities in Malaysia and nearby areas,” said Andrew Pickering, Chief Executive Officer of Avenir LNG Limited.
“The wider cooperation with PETRONAS on bunkering and small-scale development is what we consider very strategic in opening up this new and exciting market.”
Photo credit: Avenir LNG
Published: 2 October, 2019
