CLSL and MISC Bhd enter LNG jv

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Beijing: China LNG Shipping (Holdings) Limited and Malaysia’s MISC Bhd have signed a co-operation agreement for the construction of a LNG vessel at Hudong-Zhonghua Shipbuilding (Group) Co. Local papers speculate that CLSL will hold a 51% majority stake in the venture and that construction of the 147,000-cubic-meter capacity ship will begin next month.
Upon delivery, the vessel is expected to be used for transportation of oil and gas for Petronas from its interests at Bintulu to a new LNG terminal in Shanghai that will be operated by China National Offshore Oil Corporation and an unidentified energy group.  [25/09/09]