Singapore's Saga LNG, India's VLNG Sign MoU

Singapore’s Saga LNG Shipping and India’s Venerable LNG (VLNG) have signed a memorandum of understanding (MoU) with the aim to bring LNG to a terminal and infrastructure project under development by the latter, Saga said on June 1.

Saga said it will be providing one or more LNT45-S design LNG carriers to the Indian company. The 45,000-m³ newbuildings will feature an LNT A- BOX containment system, with no restrictions on partial loading, and have a fully laden draft of 7.8 metres, it added.

“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.” Saga CEO David Wu said.

VLNG is planning to set up an LNG receiving terminal with a capacity of 1mn metric tons/year at Haldia in the eastern Indian state of West Bengal.

“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 centres without dependence on third party infrastructure. We look forward to jointly working with them to open up newer geographies for LNG supply,” said Mayank Garg, managing director of VLNG.

Last month, Saga successfully loaded its first full cargo on the 45,000-m³ Saga Dawn at the Singapore LNG terminal.