Global Energy Ventures, CIMC Raffles extend LoI

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By Jasmina Ovcina Australia’s Global Energy Ventures (GEV), a developer of global integrated marine compressed natural gas (CNG) projects, and Yantai CIMC Raffles Offshore Limited (CIMC Raffles) have extended their Letter of Intent (LoI) to build the CNG Optimum 200 ships.

The extension is for six months through to December 31, 2020, according to a stock exchange filing from GEV.

The LoI concerns the construction of four firm 200MMscf Compressed Natural Gas (CNG) ships with the option for GEV to order up to an additional four ships.

It was signed back in July 2019, paving the way for the signing of a shipbuilding contract.

GEV said

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