KUALA LUMPUR – Petronas LNG Ltd (PLL) has signed a 20-year time charter agreement with MISC Group for five newbuild 174,000 cubic metre liquefied natural gas (LNG) carriers, reinforcing its long-term LNG supply reliability while supporting customers’ energy transition towards a lower-carbon future.
In a statement today, Petroliam Nasional Bhd (Petronas) said that the agreement was recently signed by PLL chief executive officer Ezran Mahadzir and MISC vice president of gas asset and solutions, Hazrin Hasan.
“This follows the conclusion of shipbuilding contracts between MISC and Hudong-Zhonghua Shipbuilding (Group) Co Ltd in January and February 2026.
“These state-of-the-art vessels will be constructed in Shanghai, China, with charter commencement expected between 2029 and 2030,” it said.
Petronas executive vice president and chief executive officer of gas and maritime business, Datuk Adif Zulkifli, said that the addition of these new LNG carriers marks another important milestone as the company continue leveraging the collective strengths of our businesses to create long-term value across the LNG value chain.
“By aligning our growth ambitions with MISC’s maritime expertise, we are strengthening the integrated capabilities that support Petronas’ position as a trusted and reliable global LNG supplier,” he said.
Petronas said the vessels will incorporate modern, efficiency-driven technologies aligned with evolving environmental and operational standards.
These include the latest XDF2.1 propulsion technology, shaft generators that enhance fuel efficiency during voyages, and an onboard reliquefaction plant to effectively manage boil-off.
“MISC will provide project management services throughout the shipbuilding phase, followed by operationalisation and ship management of the vessels upon delivery beginning in 2029.
“This integrated approach ensures greater operational continuity and reliability from construction to commercial operations, leveraging MISC’s extensive experience in LNG vessel management,” it said.
Petronas added that the collaboration reflects its continued focus on strengthening the resilience and reliability of its LNG supply chain through strategic partnerships, while contributing to the advancement of Malaysia’s energy and maritime capabilities. – May 12, 2026