Mitsui O.S.K. Lines, Ltd. (MOL) today announced 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. An event was held in Singapore on October 23 to officially launch this project, with all parties in attendance, according to the company's release. 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.
