RIYADH:Â China National Offshore Oil Co. has awarded $2.42 billion worth of contracts for building 12 liquefied natural gas tankers, the largest of their kind in the country, the company said on Thursday.
China is the world’s largest buyer of LNG, and CNOOC is the country’s largest importer of the fuel. The company is also among the state majors committed to expanding their LNG fleet to meet rising import needs and facilitate fast-growing global trade.
The 12 vessels will be built by Hudong Zhonghua Shipbuilding Co, a China State Shipbuilding Corporation unit, utilizing the so-called fifth-generation LNG tanker technology that reduces fuel consumption and carbon emissions, CNOOC said in a statement on its website.
Each tanker can carry up to 174,000 cubic meters of LNG, equivalent to 108 million cubic meters when re-gasified.
The vessels are slated for commissioning between 2024 and 2027, CNOOC said.
The company, which first imported LNG in 2006, has built 10 LNG tankers and engaged in joint vessel designing in tie-ups with CSSC.
Battery-powered electric vehicles nearly double EU market share in Q1
Battery-powered electric vehicles almost doubled their market share in the European Union during the first quarter, industry data showed on Thursday, as the rollout of models across the continent increased.
BEVs accounted for 10 percent of total passenger car sales in the EU, reported the European Automobile Manufacturers’ Association, surpassing plug-in hybrid electric vehicles, which held an 8.9 percent share.
In total, 224,145 BEVs were sold across the EU in the January-March period, up from 146,125 in the same period last year.
Hybrid electric vehicles accounted for more than a quarter of the market, up from around a fifth in the same period last year.Â
Cars powered by petrol and diesel lost market share but still accounted for 52.8 percent of the EU market during the period.
(With input from Reuters)Â
