Cosco Shipping Energy Transportation (CSET) and PetroChina are teaming up for a $555m order at Hudong-Zhonghua Shipbuilding.

According to CSET and industry sources, the company and oil producer PetroChina plans to sign orders at the compatriot shipyard to build three LNG carriers for $185m each.

The venture will make $600m in total investments, including financing and other costs.