MOL announced that, through a subsidiary, it has signed time charter contracts for four newbuilding liquefied natural gas  carriers with NOVATEK Gas & Power Asia Pte. Ltd., a wholly owned subsidiary of Russia’s PAO NOVATEK. The vessels will be constructed at Daewoo Shipbuilding & Marine Engineering Co., Ltd. , and are slated for delivery in 2024.

The newbuilding LNG carriers are equipped with the cutting-edge MAN Energy Solutions engines, which offer major improvements in fuel efficiency. It also adopts a new design that generates less boil-off gas from cargo tanks through the use of the re-liquefaction unit on board, and a shaft generator system that uses the rotating propeller shaft for power generation. These vessels are considerably more environmentally friendly than current LNG carriers.