The signing ceremony was conducted on August 6, 2019, between the two parties.

Based on the solidified relationship through this MOU and accumulated history of cooperation over the decade, MOL and CSET, as mutual strategic partner to each other, continue to lead and contribute to the development of LNG and Ethane transportation industry.

The two companies have been cooperating for more than ten years. At the same time, MOL and CSET are aiming to develop and deepen the partnership through the joint participation for the new opportunities of upcoming LNG and Ethane carrier projects.

In 2017 MOL confirmed that COSCO would take an equity stake in the MOL wholly owned subsidiary that will own four LNG carriers serving the Russia Yamal LNG project.