Shenzhen Gas has ordered an LNG carrier at CSSC Hudong-Zhonghua Shipbuilding as it expands its business in the sector.

Shenzhen Gas will establish a single ship company in Hong Kong via its Hong Kong subsidiary to purchase a new 79,960 cu m LNG carrier at a cost of $121m. A third-party ship manager will be hired to operate the vessel upon delivery.

The vessel will have an annual transportation capacity of 700,000 tons of LNG.

Shenzhen Gas said it aimed to promote the integration of its upstream and downstream LNG businesses, acquire its own LNG carriers and establish a self-controlled LNG transportation system, during the 14th five-year period.

The company expects LNG carrier investment to generate stable returns given the the increasing demand for LNG.

Source : Seatrade Maritime