LNG

Aug 24 – Japanese shipbuilders are expected to draw new investment as Tokyo looks to revive the sector, with industry groups backing a plan for roughly 350 billion yen in capital spending and a broader public-private fund of more than 1 trillion yen to double output by around 2035. The push also includes efforts to modernize yards and revive LNG carrier construction.

Asyad Shipping has agreed to sell minority stakes in the companies that own its two newest carriers, Muscat LNG and Musandam LNG, to two Omani investors. The deal leaves Asyad with 80% of each vessel-owning company and brings domestic capital into the group’s gas-shipping platform.

Japanese shipbuilders are set to draw new investment as Tokyo looks to revive the sector, with industry groups backing a plan for roughly 350 billion yen in capital spending and a broader public-private fund of more than 1 trillion yen to double output by around 2035. The push also includes efforts to modernize yards and revive LNG carrier construction.

Premiums are being paid to secure scarce LNG carrier yard slots as shipyards in South Korea and China struggle to keep up with surging demand for newbuild vessels, according to market sources. Deferrals of 17 LNG carriers linked to the Mozambique LNG project, freed up sought-after slots at Samsung Heavy Industries and HD Hyundai Samho.

Iraq’s power sector remains vulnerable to fluctuations in Iranian gas supplies, prompting Baghdad to press ahead with plans to import LNG through the country’s first floating terminal, developed by Excelerate Energy.

Golar LNG is holding off fresh capital for its fourth floating LNG unit, citing deteriorating yard economics. The 3.5 mtpa unit had been scheduled for delivery in late 2027 with not deployment location confirmed as yet.