Regional LNG: MOL signs time charter contract for Singapore's 1st FSRU

By Romel S. Gurky

Japanese shipping firm Mitsui O.S.K. Lines, Ltd. announced on Wednesday  an agreement with Singapore LNG Corporation Pte. Ltd., Singapore's state-owned LNG terminal operator, on a long-term time charter contract for one newbuilding FSRU. The FSRU will be built at Hanwha Ocean Co., Ltd. in South Korea. After delivery, MOL will own, manage, and operate the FSRU.

The FSRU will be moored at the Jurong Port in Singapore, and will play a central role in receiving, storing and regasifying LNG, and sending gas to shore. This first FSRU to be introduced in Singapore is an infrastructure project that will contribute to a stable supply of energy for the country, where about 95% of domestic power generation is fueled by imported natural gas.

Read also: Regional LNG: Singapore unveils second LNG terminal plans

[Outline of the FSRU]

Main dimensions	Length: 298.8m　Beam: 51.0m
LNG storage capacity	200,000m3
Regas discharging capacity	5 Million Tonnes Per Annum
Shipyard	Hanwha Ocean Co., Ltd.
Scheduled delivery	2027

According to MOL, it has accumulated many years of experience operating FSRUs in diverse regions and environments, including Turkey, Hong Kong, and Indonesia, and has earned a high level of trust from its customers. MOL has been developing its FSRU business around the world to meet the needs of customers who want to diversify their procurement of LNG and ensure a stable supply of energy, and it has recently entered into an agreement on an FSRU project in Poland.

Editing by Alexander Ginting