Bahri issued an expression of interest (EOI) to take under its management 12 LNG tankers from 2025, its first step towards the superchilled fuel, as Reuters informs citing an industry source.
For the time being, the company has not provided additional information. Yet, it is believed that Bahri’s expansion is part of Saudi Aramco’s expansion into LNG trading as it boosts gas production and considers expanding its LNG investments.
Bahri aims to get into the race with additional global gas players and is already growing its own gas resources as well as eyeing gas assets in the United States, Russia, Australia and Africa.
Moreover, Bahri is doing a market research to hire an LNG operations coordinator in Singapore, to deal with the LNG contract negotiations, LNG ship chartering and shipping operations. The one they’re looking for will cooperate closely with traders and also propose trading strategies.
[smlsubform prepend=”GET THE SAFETY4SEA IN YOUR INBOX!” showname=false emailtxt=”” emailholder=”Enter your email address” showsubmit=true submittxt=”Submit” jsthanks=false thankyou=”Thank you for subscribing to our mailing list”]
Recently, Bahri entered into a cooperation agreement with Saudi Arabian International Maritime Industries for the construction of one 319,000 DWT Class Crude Oil Carrier with delivery expected in October 2021.
Concluding, it is known that Aramco Trading Co has an LNG executive in Singapore to develop its business and has so far struck deals to supply LNG to Bangladesh and potentially to Pakistan.
