MOL finalizes charter deal for Uruguay FSRU project

MOL finalizes charter deal for Uruguay FSRU project

Mitsui O.S.K. Lines, through its unit, Lakler S.A., concluded a 20-year charter contract with Gas Sayago of Uruguay for the FSRU project in Montevideo, Uruguay.

The contract with Gas Sayago, a joint venture between Uruguay’s state oil company ANCAP and state power company UTE will take effect upon governmental approval which is expected to be granted by the end of 2016, MOL said in its statement on Friday.

According to MOL, the FSRU will be equipped with the largest LNG storage tank of any FSRU in the world with a 263,000 cbm storage capacity.

The vessel is currently under construction at Daewoo Shipbuilding & Marine Engineering in South Korea and it is scheduled to begin the 20-year charter beginning in 2018.

The FSRU also has the capability of reloading LNG cargo to shuttle tankers as well as sending gas through pipelines, and the specifications allow LNG re-export services and LNG bunkering services to the country and its neighboring regions.

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