Malaysia's national oil and gas company Petroliam Nasional Bhd (Petronas) announced that as part of its strategy to optimize the value of its liquefied natural gas (LNG) business, it has decided to directly procure newbuild LNG ships to meet its LNG transportation requirements.
The move will allow Petronas to have direct access to LNG shipping capacity at the lowest possible costs.
Petronas will be engaging MISC Bhd - a subsidiary of Petronas - to provide Project Management and Technical Consultancy services for the construction of the new LNG ships, given MISC’s extensive experience and expertise in the LNG shipping sector and familiarity with Petronas’ business needs.
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