Pan Ocean confirms LNG carrier order, likely for Portuguese contract

South Korea’s Pan Ocean has confirmed an investment allocation that suggests it has won a long-term LNG contract with Portuguese utility Galp Energia.

TradeWinds first reported Pan Ocean was the front runner for the job back in November.

In an extremely taciturn statement to the Singapore exchange, the company said it was investing KRW 204b ($186m), or about 7% of its equity capital, for the purpose of "expanding LNG business”.