Malaysia-based MISC Berhad (MISC) has received a letter of award from Petronas LNG Ltd (PLL) for the provision of long-term liquefied natural gas (LNG) shipping services.

MISC said under the LoA issued on Jan 30, 2026, it will time charter newbuild LNG carriers to PLL for 20 years each, with services commencing in 2029 and provided through its wholly owned subsidiaries.

In addition, MISC has entered into shipbuilding contracts with Hudong-Zhonghua Shipbuilding (Group) Co. Ltd. (HZ) for the construction of three newbuild LNGCs for the project.

“The time charters include commercial, project execution and operational risks, inherent to the industry. MISC will take appropriate measures to mitigate through established controls, experience and operational expertise,” reads the company’s statement.

It said the project will not have any effect on MISC’s share capital and shareholding structure of substantial shareholders, and is not expected to have a material impact on the financial position of the MISC group of companies for the financial year ending Dec 31, 2026.

Malaysia’s PLL is a wholly owned indirect subsidiary of Petroliam Nasional Berhad (Petronas), which is also the holding company of MISC. Its principal activity is in the buying and selling of LNG, the chartering of LNG vessels, and the transport and supply of LNG.

HZ is a shipbuilding enterprise under China State Shipbuilding Corporation Limited (CSSC), with expertise in R&D, engineering and construction of ships ranging from large LNG carriers, large/ultra-large container ships, chemical tankers, heavy-lift ships to military ships.