Mitsui O.S.K. Lines (MOL) has announced an agreement with Singapore LNG Corporation on a long-term time charter contract for the country’s first Floating Storage Regasification Unit (FSRU).
The FSRU, built at Hanwha Ocean shipyard in South Korea, 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. After the delivery, MOL will own, manage, and operate the vessel.
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.
An event was held in Singapore on 23 October to officially launch this project, with all parties in attendance.
