Japanese gas utility Tokyo Gas' wholly-owned subsidiary Tokyo LNG Tanker has signed a long-term charter agreement with domestic shipping firm Mitsui OSK Line (Mol) to operate a new LNG carrier.
South Korean shipbuilder Hanwha Ocean will build the 174,000m³ membrane-type vessel at its Geoje shipyard, and it will be delivered in 2026. The ship is equipped with German manufacturer MAN Energy Solutions' latest engine, which is designed to use boil-off gas in addition to conventional fuel oil, to improve fuel efficiency and reduce greenhouse gas emissions.
The vessel will be Tokyo LNG Tanker's 11th LNG carrier under long-term charter agreements. Tokyo Gas intends to secure the up-to-date high-performance ship to boost trading volumes and to import LNG.
Tokyo Gas has set a goal to achieve 20mn t of natural gas handling by the April 2030-March 2031 fiscal year, including 5mn t of LNG trading. But it also withdrew from four of its Australian LNG projects in 2022 by selling its entire stake to US energy investment firm EIG. Tokyo Gas said there would be no impact on its LNG procurements following the sale of its LNG assets, as the company can maintain continuing term contracts with those divested LNG projects.
