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The project marks Indonesia's first domestic transport of LNG. It will ship up to 3 million tons of LNG from Bontang and other Indonesian ports. It is also MOL's first offshore business in Indonesia. MOL established a joint venture with Indonesian ocean shipping company PT Trada Maritime Tbk (headquarters: Jakarta; President Director: Teguh Arya Putra) (*3) which owns and operates the LNG carrier LNG Aquarius (*4). Operation is scheduled to start in late January, 2012, and the transport contract runs through the end of 2022. Coastal transport of LNG is a new business model for Indonesia, where domestic demand for natural gas is increasing. MOL takes a proactive stance in providing LNG transport services that precisely meet customer needs. (*1) Floating Storage and Regasification Unit (FSRU) LNG transported from the production site by an LNG carrier is discharged offshore near the point of consumption. The FSRU then returns the LNG to its gaseous form, which is transported by pipelines for distribution to gas utilities and consumers. (*2) PT Nusantara Regas Indonesian company owned 60% by Indonesian national oil company PT Pertamina (Persero) (headquarters: Jakarta) and 40% by Indonesian national gas company PT Perusahaan Gas Negara (Persero) Tbk (headquarters: Jakarta). (*3) Ownership of new company PT Trada Maritime Tbk: 51%, MOL: 49% (proposed) (*4) Profile of vessel Length: 285m Breath: 43m Draft: 10.9m Capacity: 126,300m³ (5 MOSS-type spherical tanks) Built in: 1977 Mitsui O.S.K. Lines, Ltd. press release |
