CNOOC inks long-term charters for six LNGC newbuildings – reports

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.

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.