Australia-listed Global Energy Ventures (GEV) has lined up an order for up to eight compressed natural gas (CNG) carriers in China.

It has picked CIMC Raffles to build four firm vessels of its CNG Optimum 200MMscf design, plus four options.

The proposed price range per ship in the letter of intent (LOI) is between $135m and $145m, meaning the full series could cost $1.16bn.