State-owned China National Offshore Oil Corp. (CNOOC), the country’s largest LNG importer, has entered a joint venture (JV) to build more of the massive vessels that transport the super-chilled fuel around the world. 

The company has partnered with China Merchants Energy Shipping Co. Ltd. (CMES) and Japan’s NYK Line to build six liquefied natural gas carriers (LNGC), according to news media reports. 

A CNOOC affiliate would lease the 174,000 cubic meter vessels, which are expected to be completed and ready for operations in 2027. The company would take a 50% stake in the JV, while CMES and NYK would each hold 25%.

CNOOC said the JV would further improve its operations across the LNG value chain. The deal is another sign that China’s major natural gas players are...