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Mitsubishi Corp. advances LNG carrier JV for Cameron LNG project

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LNG Industry,

Mitsubishi Corp. has announced plans for a new LNG carrier to be deployed to the Cameron LNG project in the US.

The vessel will be owned by Diamond LNG Shipping 3 Pte Ltd (DLS-3), which is a ship-owning joint venture (JV) formed by Mitsubishi Corp., Toho LNG Shipping Co. Ltd 1, Tohoku Electric Power Co. Inc. and Nippon Yusen Kabushiki Kaisha.

In December 2015, Mitsubishi Corp. entered into a shipbuilding contract with MI LNG Co. Ltd 2, and signed a heads of agreement (HoA) for time charter party with its wholly owned subsidiary Diamond Gas International Pte Ltd for the building of the new vessel as part of its efforts to secure carriers to transport LNG produced at the Cameron LNG facility.

DLS-3 was established as a wholly owned subsidiary of Mitsubishi Corp. in May 2016, but there was an understanding at the time that it would become a four-company JV once approved by the relevant authorities, and procedures for equity participation were completed.

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US LNG news LNG export news