Japanese shipping company MOL announced plans to establish an Offshore Gas Project Division, as an organization focused on businesses related to the LNG field in energy value chains, such as FSRU projects, LNG Powership business, etc.
The decision forms part of the company’s restructuring plans announced last week, which are to take effect from 1st April 2020.
This seeks to accelerate the enhancement of the offshore business, in which the company is concentrating the investment of management resources, in line with Rolling Plan 2019.
According to MOL, the Offshore Project Division shall have specific responsibilities in crude oil fields such as FPSO projects, shuttle tanker projects, and the subsea support vessel business.
The company has shed significant focus on LNG as an environmentally friendly solution.
Last month, a 18,600 cbm LNG bunkering vessel, owned by MOL and claiming the title of the world’s largest vessel of its type, completed its sea trials in China.
Other forms of the company’s restructuring plan includes the establishment of a Chief Environment and Sustainability Officer and a Chief Digital Officer, as well as the establishment of steaming coal & renewable energy project division, and a ferry and associated business division.
