Saga LNG Shipping based out of Singapore and Venerable LNG (“VLNG”) headquartered in India have signed a Memorandum of Understanding (MoU) on May 26, 2020 with the aim to bring LNG to a terminal and infrastructure project under development by VLNG. The project targets new end consumers from different storage hubs in the Eastern part of India.
The Bay of Bengal’s shallow coastline dictates a bespoke shipping solution, for which Saga LNG will be providing one or more LNT45-S design LNG carriers. The 45,000m3 newbuildings will feature an LNT A- BOX® Containment system, with no restrictions on partial loading, and have a fully laden draft of 7.8 meters.
“Now that Saga Dawn is successfully trading, we redouble our efforts on developing new projects to grow our fleet of small to midsized vessels. We believe the market needs more innovative projects like the one VLNG is developing and we are very pleased to contribute to this exciting project by providing an optimized shipping solution.” David Wu, Founder and CEO of Saga LNG Shipping.
“We at VLNG have a strong belief that tapping into the regions latent gas demand needs innovation in terms of strategy and implementation. We are excited to see the progress of Saga LNG in providing custom made supply solutions to draft limited ports, a necessity in order to access the distributed demand centers without dependence on third party infrastructure. We look forward to jointly working with them to open up newer geographies for LNG supply.” Mayank Garg, Managing Director of VLNG.