Japan’s MOL takes part in India FSRU project

Japan’s Mitsui OSK Lines has joined India’s first newbuilding floating storage and regasification (FSRU) project.

MOL said on Friday it signed a deal with Swan LNG Private Limited for the long-term operation and maintenance of a FSRU and a floating and storage unit that would serve as the core receiving facilities in an LNG terminal to be developed by Swan Energy in Jafrabad, Gujarat.

The FSRU serving this project has been ordered by Swan Energy through its unit Triumph Offshore that signed a shipbuilding deal with South Korea’s Hyundai Heavy Industries.

MOL has an option to participate in the FSRU joint ownership. The option is exercisable any time before the delivery of the FSRU at the Korean shipyard, according to a MOL statement.

Moreover, MOL will invest in Swan LNG and participate in many facets of the project as a technical partner. The terminal is slated to start operation in early 2020.

India’s first newbuilding FSRU project is part of MOL’s initiatives to “pursue vertically integrated businesses that are not limited to transportation in the LNG business,” in addition to expansion of the LNG business in the growing Indian market, the company said.

 

Share this article

Follow LNG World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >