Petronas and Hyundai Heavy Industries Co Ltd have agreed to enter into a novation agreement with MISC for the shipbuilding of five new build Liquefied Natural Gas (LNG) carriers to be delivered from September 2016 to December 2017 for a total of 1.1 billion dollars.
Petronas has also agreed to enter into time charter contracts upon the delivery of these five new builds with a 15 year plus another five year option.
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