Mitsui O.S.K. Lines Ltd. (MOL) announced that, through a subsidiary, it has signed time charter contracts for four newbuild LNG carriers with Novatek Gas & Power Asia Pte. Ltd., a wholly owned subsidiary of Russia's PAO NOVATEK. The vessels will be constructed at Daewoo Shipbuilding & Marine Engineering Co. Ltd. headquartered in South Korea.
Slated for delivery in 2024, the 174,000 m3 membrane-type carriers will be equipped with the MAN Energy Solutions engines, which offer improvements in fuel efficiency. It also adopts a new design that generates less boiloff gas from cargo tanks using a reliquefaction unit on board, and a shaft generator system that uses the rotating propeller shaft for power generation. MOL said the vessels are more environmentally friendly than current LNG carriers.
A JPT report, “Russian LNG Aims High, Leveraging Big Reserves and Logistical Advantages,” provides an overview of the investment Russia is pouring into LNG projects, including the country’s largest natural gas producer, Novatek.