Novatek to charter LNG carrier quartet from MOL

Russian independent LNG producer Novatek will charter four 174,000-cbm LNG carriers from Japan’s shipping giant MOL as part of a new deal revealed on Tuesday.

MOL said in a statement it had signed time charter contracts for the newbuilding LNG carriers with Novatek Gas & Power Asia, a unit of Novatek.

South Korea’s Daewoo Shipbuilding & Marine Engineering will build the vessels and deliver them in 2024, according to MOL.

The newbuilding LNG carriers will feature MAN Energy Solutions engines, which offer “major improvements in fuel efficiency.”

They would also adopt a new design that generates less boil-off gas from cargo tanks through the use of the re-liquefaction unit on board, and a shaft generator system that uses the rotating propeller shaft for power generation, MOL said.

MOL did not provide any additional information.

Novatek operates the giant Yamal LNG project but it is also moving forward with the construction of its second export project in the Arctic, Arctic LNG 2.

The two firms have previously partnered on vessels for both of the projects, including Arc7 ice-class LNG tankers.

MOL also recently said it plans to buy stakes in two giant floating LNG storage units from Russian state leasing agency GTLK. These units will serve Novatek’s LNG transshipment terminals in Kamchatka and Murmansk.

DSME reveals price tag

DSME said in a filing to the stock exchange on Tuesday it had won an order to build four 174,000-cbm LNG carriers for an Asian company.

The yard did not reveal the name of the owner but it is probably related to this contract between Novatek and MOL.

The order has a price tag of 990 billion won ($846 million), DSME said. It will deliver the ships by October 2024.

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