OREANDA-NEWS. Tokyo LNG Tanker Co., Ltd., which is a 100% subsidiary of Tokyo Gas Co., Ltd., has signed today a contract for shipbuilding regarding one LNG vessel (165,000m3 tank capacity) with Japan Marine United Corporation, and has signed a Heads of Agreement regarding the joint ownership and 20-year charter of the vessel with Mitsui O.S.K. Lines, Ltd.

The LNG vessel, scheduled to be delivered in 2017, will be used to transport LNG mainly for the U.S. Cove Point Project. The vessel will be able to pass through the enlarged Panama Canal. The new vessel's containment system is SPB, which was also used for two LNG vessels for which Tokyo LNG Tanker concluded a shipbuilding contract with JMU on February 28, 2014. MOL will take charge of ship management in accordance with the 20-year charter contract. When the vessel is delivered, the number of LNG vessels owned and managed by Tokyo LNG Tanker will be 13.

Tokyo Gas Group will aim to diversify and increase suppliers, and decrease material costs, by owning and operating its LNG vessels proactively.