Mitsui completes LNG carrier purchases

Market: Natural gas
12/05/15

Japanese trading house Mitsui has secured a new LNG carrier to transport LNG from the US Cameron LNG export project, completing a ¥700bn ($5.9bn) programme to buy eight vessels for the 12mn t/yr venture scheduled for a 2018 start-up.

It will charter a 178,000m³ membrane-type LNG carrier for up to 25 years starting in around 2020 from Trinity LNG Transport, a joint venture between Mitsui, Japanese shipbuilder Imabari Shipbuilding and Japanese shipping firm K Line. The ship will be built by Imabari Shipbuilding and installed with an electronically-controlled dual-fuel gas injection diesel engine.

Mitsui previously signed charter agreements for five vessels in September last year and two more in January this year. Japanese shipbuilders have won contracts to build at least five of the LNG carriers, while one will be built by a South Korean shipbuilder and two by undisclosed firms.

Mitsui owns a 16.6pc stake in the Sempra-led Cameron project and has commitment to take 4mn t/yr of LNG. It has agreed so far to deliver 1.62mn t/yr of Cameron LNG to Japanese power and gas utilities.

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Mitsui completes LNG carrier purchases

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