Petronas looks to cut costs by procuring personal fleet of new LNG ships

By ABHRAJIT GANGOPADHYAYKUALA

KUALA LUMPUR -- Malaysia's state-owned oil and gas company Petroliam Nasional Bhd, or Petronas, will directly procure new ships to transport liqueified natural gas in a move aimed at cutting costs, the company said in a statement Thursday.

A company's spokesman didn't comment on the current LNG shipping strategy.

The move will give Petronas direct access to LNG shipping capacity at lowest possible costs, the statement said.

Petronas will engage its shipping unit MISC Bhd to offer project management and consultancy services in construction of new LNG ships, it added.


Dow Jones Newswires

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