Sources told LNG Prime that the recently signed letter of intent is for two firm 175,000-cbm LNG carriers and two optional vessels.
The delivery of the LNG carriers is expected to take place in 2028.
If confirmed, these would be the first GasLog LNG carriers built in China.
According to the GasLog website, the fleets of both GasLog and GasLog Partners consist of 38 LNG carriers, with two vessels under construction in South Korea.
GasLog is expected to pay approximately $225 million for each LNG carrier to Jiangnan, significantly less than the $255-260 million typically paid for a conventional LNG vessel in South Korea.
Sources said Jiangnan is eager to continue its LNG carrier shipbuilding story after winning orders for six LNG carriers from UAE’s Adnoc in 2022 and two LNG carriers for Shandong Marine in 2023.
The entire Adnoc order is worth more than $1.2 billion, while the Shandong Marine vessels are each worth about $235 million.
These two GasLog LNG carriers are expected to be similar to the Adnoc vessels.
The “LNG Jumbo” dual-fuel carriers feature GTT’s Mark III Flex membrane system and a partial reliquefaction system, as well as WinGD dual-fuel engines.
