A subsidiary of China National Offshore Oil Corporation (CNOOC) has signed long-term charter agreements for six newbuild 174,000cbm LNG carriers with shipowner Mitsui O.S.K. (MOL), according to local social media reports. The six vessels will be built at China’s Hudong-Zhonghua Shipbuilding Group.

CNOOC’s subsidiary CNOOC Gas and Power Group signed long-term charter agreements for six LNG carriers with MOL. MOL and China Shipbuilding Trading Co. Ltd agreed an order for the six vessels with Hudong-Zhonghua Shipbuilding at a virtual ceremony held on 7 January.

Chinese social media reports CNOOC agreed long-term charters for six new 174,000 cbm LNG carriers with MOL representatives on 7 January 2022 (pictured).

Source: Social media

Chinese social media reports CNOOC agreed long-term charters for six new 174,000 cbm LNG carriers with MOL representatives on 7 January 2022 (pictured).

The order, which is understood to RMB7.5 billion (US$1.18bn), represents a significant increase in the largest order booked by a Chinese shipyard, and is also the largest single order for LNG carriers at a Chinese yard. 

The order is understood to be for the shipyard’s new Changheng LNG carrier design, which the shipyard has jointly developed with LNG containment specialist GTT. No details about the design’s propulsion solution were available.   

While the deployment of the vessels has not been announced, The Motorship notes CNOOC Gas and Power entered into a 20-year sale and purchase agreement (SPA) with Venture Global on 20 December for the supply of 2 million tonnes per annum (MTPA) of LNG from its Plaquemines LNG export terminal in Louisiana, and a shorter purchase agreement for 1.5 MTPA from Venture Global’s Calcasieu Pass LNG facility.

In September 2021, CNOOC Gas and Power also signed a 15-year 3.5 MTPA SPA with Qatar Gas.