Each vessel will have the capacity to carry 147,200 cubic metres. According to the state-run China Daily, “The first two vessels, with a total value of US$400 million, are due for delivery in October 2007 and early 2008 with the third to be ready at a later date.”

“All three vessels are to be jointly owned by the following groups: China Shipping Group Co, China Merchants Group Ltd, Upper Horn Investments Ltd, Shenzhen Marine Co, Australia LNG Pty Ltd and the Energy Transportation Group,” it added.

It is understood the three tankers are the first LNG carriers to be built in China by a mainland Chinese firm and each vessel is designed to transport 1.42 million tons of LNG per annum from Withnell Bay, Karratha in Australia to Dapeng Bay. Should the vessels not be ready on time, Australia LNG will provide a tanker to carry out deliveries.

The Guangdong LNG project at Dapeng Bay is currently under construction and should be operational by mid-2006. It will import around 3 million tons of LNG per annum from Withnell Bay.