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CNOOC signs contract to manufacture 12 LNG carriers

Author : PCEC

19 May 2022

China National Offshore Oil Company (CNOOC) has signed contracts for the construction of 12 liquefied natural gas (LNG) carriers worth 16 billion yuan (£1.9bn) – the largest investment in LNG ship construction ever in China.

Image: CNOOC
Image: CNOOC

With the advancement of China's economic development and its “dual carbon" goal of having its carbon emissions peak before 2030 and to become carbon neutral before 2060, China's LNG import volume has grown rapidly in recent years. In 2022, the import volume will reach 78.93 million tons, accounting for 65% of China's natural gas imports in the same period, making China surpass Japan to become the world's first Large LNG importer.

For a long time, China's LNG imports have been mainly delivered by onshore sellers, and the transportation rights have been controlled by large international resource providers. Compared with major importers such as Europe, Japan and South Korea, China's LNG transportation autonomy is relatively weak. Since CNOOC built its first ship at Hudong-Zhonghua Shipbuilding Co., Ltd. in 2000, it has built a total of 10 domestic large-scale LNG carriers. The two parties have jointly achieved a number of breakthroughs in the field of independent design and construction of LNG carriers.

"This time, CNOOC will also join hands with China Merchants Group and internationally renowned shipping companies to participate in the whole process of ship construction, supervision, management and operation. After the new ship is delivered, CNOOC will be responsible for ship scheduling and resource transportation, which will further enhance the China's ability to independently control the entire chain and cycle of LNG transportation," said Jin Shuping, Deputy General Manager of CNOOC. The 12 newly built ships will adopt the latest fifth-generation LNG ship type independently developed by Hudong-Zhonghua Shipbuilding and jointly optimised with CNOOC, using the world's most advanced main engine system and the latest cargo hold technology. This type of ship can achieve a significant reduction in ship fuel consumption, reduce resource transportation costs, and carbon emissions are 15 years ahead of the requirements of the International Maritime Organization (IMO).

"This time, we have greatly optimised the ship performance and main indicators of the 12 newly built ships in combination with CNOOC's higher requirements for safety, greenness, flexibility, and low cost. Since the cooperation, we have been working intensively in the field of LNG carrier construction, constantly improving and improving our independent capabilities. From the first generation to the current fifth generation of the latest ship types, both performance indicators and environmental protection indicators are very internationally competitive,” said Shanghai Chen Jun, General Manager of Hudong-Zhonghua Shipbuilding.

The maximum LNG loading capacity of the newly built LNG carrier is 174,000 cubic metres, which will reach 108 million cubic metres of natural gas after vaporisation. The 12 LNG carriers are scheduled to be delivered year by year from 2024 to 2027. Wang Dongjin, Chairman of CNOOC, said that the company will accelerate the development of the entire LNG industry chain business and enhance its natural gas production, supply, storage and sales capabilities. It is planned that by 2025, CNOOC's natural gas sales will exceed 100 billion cubic metres.


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