NYK, Kyushu Electric Power Partner on LNG Transport
Japanese firms NYK and Kyushu Electric Power Co. Inc. say they have reached an agreement to partner in various fields, including liquefied natural gas (LNG) transport.
According to NYK, the agreement will allow Kyushu Electric Power to use vessels from the shipping company’s fleet for short-term LNG transport, enabling NYK to improve its profitability through efficient vessel allocation and Kyushu Electric Power to improve its flexibility in LNG transport.
Shipping company NYK and energy company Kyushu Electric Power will also consider the feasibility of cooperation in complementary businesses, such as LNG bunkering, involving LNG supply and marine business.
In a separate decision, NYK said it has assigned its 100,450 gt LNG carrier Grace Barleria to a charter contract for Kyushu Electric Power from this month. For up to about 11 years, this vessel will transport LNG from various projects such as the Wheatstone LNG project in Australia.