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Nantong Mingde Heavy Insudtry signs agreement with US Cambridge Energy Group for LNG carrier development.
By Rachael Meredith in London
30 July 2012 11:05 AM
Chinese yard Nantong Mingde Heavy Industry has joined forces with US energy outfit Cambridge Energy Group for the development of LNG carriers.
The two parties signed a strategic cooperation agreement which covers plans to develop and construct five 140,000-cbm LNG carriers, with options for four more, and 10 to 12 20,000-cbm to 40,000-cbm LNG carriers.
The pair also hope to build two floating LNG units which would have an export capacity of 2 million tonnes per annum.
This would mark Mingde's first move into the LNG business.
"FOr this LNG carriers project, we have recruited experts on LNG carriers in China and created a R&D (research and development) team," said Mingde chairman Ji Fenghua.
"We will carry out extensive cooperation with Cambridge Energy in [the] technical area and trust that we could benefit a lot in core technology for LNG carriers."
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