A consortium led by Japanese transport company Nippon Yusen Kabushiki Kaisha (NYK Line) has completed an agreement with New Delhi-based Petronet for a long-term charter of a new liquefied natural gas (LNG) carrier. The consortium has also signed an agreement with Samsung Heavy Industries to build the vessel.

Petronet is the first LNG importer in India, and has imported five million tons of LNG a year from Qatar since 2004 using two LNG carriers. Following its decision to import an additional 2.5 million tons per year, it has employed the consortium to supply this additional LNG under a long term charter contract.

The four-company consortium, made up of Mitsui OSK Lines, Kawasaki Kisen Kaisha, and Shipping Corporation of India, also operates the two vessels already in service and will continue to ensure a steady supply of LNG to India, where energy demand continues to grow.