AsiaAustralia and OceaniaContracts and Tenders

Hyundai Glovis inks 10-year LNG carrier charter deal with Woodside

By LNG Prime Staff
Hyundai Glovis inks 10-year LNG carrier charter deal with Woodside
For illustration only (Image: Woodside)

South Korea’s Hyundai Glovis said it would charter one newbuild LNG carrier for 10 years to Australian LNG player Woodside.

The charter deal also includes an option for additional five years, Hyundai Glovis said in a statement on Tuesday.

With this, the South Korean operator of a large PCTC fleet and the shipping unit of Hyundai Motor Group enters the LNG transportation business.

Hyundai Glovis said that both its CEO Kim Jung-Hoon and Woodside’s chief Meg O’Neill attended the online signing ceremony on Tuesday.

Hyundai Glovis is the first shipping company in Asia to sign a contract with Woodside, according to the statement.

To fulfill the contract, Hyundai Glovis has launched a new ship construction project which should be complete in the second half of 2024, the company said, but it did not provide any additional information.

Following delivery, the LNG carrier would transport LNG produced in Australia to global customers, including in Northeast Asia.

Besides LNG, Hyundai Glovis said it would cooperate in hydrogen shipping with Woodside as well.

Brokers recently reported that Hyundai Glovis had ordered one LNG carrier, backed by a Woodside charter, at South Korea’s Hyundai Samho Heavy Industries.

HSHI’s parent KSOE said the deal for the 174,000-cbm LNG carrier had a price tag of about $218 million with delivery scheduled by August 2024.

Most Popular

LNG Terminals

US weekly LNG exports climb to 36 shipments

US liquefied natural gas (LNG) plants sent 36 cargoes during the week ending June 17, up two cargoes from the week before, according to the Energy Information Administration.
LNG Terminals

LNG Canada ships 100th cargo

Shell-led LNG Canada has shipped the 100th cargo of liquefied natural gas from its Kitimat facility on the west coast of Canada.
Contracts and Tenders

Vopak, Transnet seek EPC contractor for South African LNG terminal

A joint venture of Dutch terminal operator Vopak and Transnet Pipelines has officially launched its formal expression of interest process to engineering, procurement, and construction (EPC) contractors for the planned LNG import terminal in South Africa’s Richards Bay.

More News Like This

Corporate

Australia’s Woodside denies takeover talks with ExxonMobil

Australian LNG player Woodside said on Monday that it is not in discussions with US energy giant ExxonMobil regarding a potential transaction following media reports.
Contracts and Tenders

Woodside exercises right to buy PetroChina’s Browse LNG stake

Australian LNG player Woodside has exercised its right to pre-empt the sale of PetroChina International’s 10.67 percent participating stake in the Browse joint venture to Japan's Inpex.
Contracts and Tenders

BP to sell Browse LNG stake to GS Energy

UK-based energy giant BP has agreed to sell a 5 percent stake in the planned Woodside-led Browse LNG project in Australia, which would deliver natural gas from the Calliance, Torosa, and Brecknock fields to the existing Karratha gas plant, to South Korea's GS Energy.
LNG Terminals

Maintenance workers start strike at Karratha gas plant, Pluto LNG

Maintenance workers at the Woodside-operated Karratha gas plant, part of the North West Shelf project, and the Pluto LNG export plant in the Pilbara region of Western Australia began a strike on Wednesday after failing to reach an agreement with contractor UGL, according to the Offshore Alliance.