MOL, JBIC & NOVATEK Sign Cooperation Agreement For LNG Transshipment Projects

Cooperation Agreement for LNG Transshipment Projects in Kamchatka and Murmansk that is the east and west of the Russian Federation was signed by Mitsui O.S.K. Lines, Ltd. (MOL), Japan Bank for International Cooperation (JBIC) and PAO NOVATEK (NOVATEK)

Floating Storage Units (FSUs) will be constructed under this project to transform the ice-breaking LNG ships to convetinal LNG Ships. The FSUs that will be used to transship the LNG cargoes that are produced by NOVATEKCs Yamal LNG Project and Arctic LNG 2 Project, will be located in Kamchatka and Murmansk.

The cost of LNG cargoes that come through the Northern Sea Route can be minimized by using the Transshipment hubs in Kamchatka and Murmansk. This will ensure the timely and stable delivery of LNG cargoes to LNG consumer States.

 

PR Reference: MOL

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MOL, CSET, DMU & HZ Hosts Shanghai LNG Forum 2019 Jointly On Aug 7

It has been announced by Mitsui O.S.K. Lines, Ltd. (MOL) that on August 7, 2019 it has jointly hosted the Shanghai LNG Forum 2019(the forum) with COSCO SHIPPING Energy Transportation Co., Ltd. (CSET), Dalian Maritime University and Hudong-Zhonghua Shipbuilding Group (HZ).

Last year’s “Shanghai LNG Forum 2018” was held where participants from many leading companies in the LNG industry exchanged business outlook. knowledge and opinions.

This time, “green, safety, development and win-win,” were the keywords carried by the forum and it provided an opportunity for jointly building a platform for expanding LNG business and promoting industrial strategical understandings among the attendees.

About 170 people attended to the forum, where speeches and presentations were made by leaders from global leading companies or organizations. Ethane transportation and floating storage and regasification unit (FSRU) technologies as well were discussed apart from LNG business or its supply and demand.

MOL jointly owns and operates 17 LNG carriers (including those in the planning stage) for the ExxonMobil project*2, Australian Pacific LNG Project*3 and Yamal LNG Project*4. 14 of them were and will have been constructed at the shipyard of HZ in Shanghai, China in partnership with COSCO SHIPPING LNG Investment (Shanghai) Co., Ltd, a subsidiary of CSET. Furthermore, MOL and CSET has just signed a Memorandum of Understanding, for extending partnership and mutual cooperation on future LNG and ethane projects*5.

With the deepen relationships between Chinese partners, which also includes those newly established through this forum, and the know-how which has been gained from the existing LNG projects, MOL continues to contribute to further growth of the LNG business in China.

Reference: mol.co.jp

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