ENI to pay 133 million USD to take back its gas carriers
MISC Berhad and LNG Shipping officialised the time charter contracts for 5 years of LNG Lerici and LNG Portovenere
During an official ceremony that officialised what Ship2Shore had written in advance, MISC Berhad of Malaysia has signed two time charter parties with LSS LNG Shipping S.p.A., a subsidiary of Italian energy group ENI, for LNG Portovenere and LNG Lerici, pursuant to a memorandum of agreement which resulted in MISC acquiring ownership of LSS vessels.
The two LNG carriers will be chartered by LSS for a period of 5 years with an estimated combined contract value of $133 million. The charter for LNG Portovenere is expected to commence in December 2018, and the charter for LNG Lerici is expected to commence by January 2019.
During the signing of agreement between MISC Berhad and LSS S.p.A., LSS was represented by Matteo Boccazzi, Mergers and Acquisition, Eni SpA, Alessandro Della Zoppa, EVP Business Unit LNG, Eni SpA and. Riccardo Baratozzi, CEO LNG Shipping SpA.
MISC Berhad was represented by En. Zahid Osman, Vice President of LNG Business and Capt. Pavan Kumar Shivan Ditta, Head Ship Operations & Contract Management, LNG Business.
LSS, 100% owned by ENI S.p.A., was incorporated on 26 July 2001 and operates in the transportation by sea of liquefied natural gas (LNG) through the use of the 2 proprietary vessels above, each with a capacity of 65,000 cubic metres, to support ENI for shipping needs and the LNG business