MISC And Consortium Awarded Long Term Charter Contract By QatarEnergy

MISC through a consortium with Nippon Yusen Kabushiki Kaisha, Kawasaki Kisen Kaisha, Ltd., and China LNG Shipping (Holdings) Limited who together form the consortium has been awarded a long-term Time Charter Parties by QatarEnergy for seven 174,000 m3 newbuild Liquefied Natural Gas Carriers to be built by Hyundai Heavy Industries Co., LTD.

Under the agreement, MISC has agreed on the principal terms for the Consortium and each Consortium member will have equal equity interest of 25% in each awarded LNGC. MISC will enter into shareholders’ agreements with the Consortium through its wholly-owned subsidiary known as Portovenere and Lerici (Labuan) Private Limited (“PLL”).

The joint venture companies will be formed to manage the commercial operations of the LNGCs and Eaglestar Shipmanagement GAS (S) Pte. Ltd., an indirect wholly-owned subsidiary of the Company will be providing ship management services for part of this project.

QatarEnergy is the state-owned energy company in the State of Qatar, and is involved in exploration, production, refining, transport, and storage.

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