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MISC Secures 15-Year Charter Deals With Exxonmobil For Two New LNGC

Last updated on October 14th, 2019
MISC Secures 15-Year Charter Deals With Exxonmobil For Two New LNGC

MISC Secures 15-Year Charter Deals With Exxonmobil For Two New LNGC

Through wholly-owned subsidiaries, MISC Berhad (MISC) secured agreements with SeaRiver Maritime LLC (SeaRiver) which is ExxonMobil Corporation’s wholly-owned subsidiary, the contract of two LNG carriers. The transportation needs of the ExxonMobil’s worldwide LNG portfolio will be served by both the LNG carriers against the 15-year charter contract.

An agreement was signed by MISC earlier with Samsung Heavy Industries through the same subsidiaries for the building of LNG carriers in Korea.

With the capacity of 174,000 cubic meters, the vessels also feature state-of-the-art technologies that comprise modern XDF propulsion, Mark III Flex Plus containment system and full re-liquefaction facility that will facilitate better efficiency and will help meet the worldwide trading and long haul voyages demands. The carriers are scheduled to be delivered by the first quarter of 2023.

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MISC’s President / Group Chief Executive Officer, Mr. Yee Yang Chien said “This is certainly a landmark moment for MISC, and we are proud to expand this strategic partnership with ExxonMobil through SeaRiver in providing best-in-class shipping solutions, beginning with Petroleum and now LNG. With our broad spectrum of energy-related maritime solutions and services, MISC is confident of our ability to serve the various needs of the global oil and gas industry. We honor the trust and value the opportunity given for us to support ExxonMobil in ensuring safe, efficient and reliable transportation of LNG. Ultimately this partnership is a testament to our capabilities of fulfilling the world’s growing demands for this energy source.”

“Our cooperation with MISC is an integral part of ExxonMobil’s commitment to providing flexible solutions in the open and dynamic LNG marketplace,” said Alex Volkov, Vice President of Global LNG Marketing at ExxonMobil. “The addition of these two vessels will help us build a competitive LNG value chain as ExxonMobil continues to grow its global gas portfolio and expand supply positions to meet the evolving needs of our customers.”

The Vice President of LNG Business, Mr. Zahid Osman represented the MISC and Vice President Global Marine Commercial & Planning, Mr. Doug Grote represented the SeaRiver in the signing of the agreements in Houston.

Reference: MISC

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