Malaysia's Petronas awards LNG vessel order to Hyundai Heavy Industries
KUALA LUMPUR Oct 11 (Reuters) - Malaysia's state oil firm Petroliam Nasional Bhd (Petronas) awarded South Korea's Hyundai Heavy Industries Co a contract to build four liquefied natural gas (LNG) carriers.
The contract includes options to order four additional LNG carriers, Petronas said in a statement on Friday.
Hyundai Heavy Industries said earlier in the day that the value of the contract stood at $850 million with delivery of the vessels scheduled from the second half of 2016.
Petronas said its shipping arm MISC Berhad will act as the project manager and technical consultant for the construction of these LNG carriers.
Petronas has previously said it would directly procure newbuild liquefied natural gas (LNG) ships to bring down costs, as it makes a big push into the Canadian energy sector and seeks a licence from the authorities to export LNG.
Petronas - Malaysia's only Fortune 500 firm - will invest a total of $35 billion over 30 years to develop shale oil fields, build two LNG trains and a pipeline to channel the supplies to the Canada's West Coast and export to Asia. (Reporting By Yantoultra Ngui; Editing by Niluksi Koswanage)
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