MOL Joining Project in Uruguay

Build and Charter World’s Largest FSRU

Tokyo - October 04, 2013

Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced that MOL, along with a subsidiary of GDF Suez S.A. has signed a 20-year time charter party for one floating storage regasification unit (FSRU). The FSRU will be a core facility for a liquefied natural gas (LNG) import project in Uruguay led by Gas Sayago (*1). This is the first FSRU project for MOL to solely build, own, and operate such a unit.

The FSRU will have a storage capacity of 263,000 cubic meters of LNG, making it the world’s largest. Built by Daewoo Shipbuilding & Marine Engineering Co., Ltd., in South Korea, the FSRU is to be completed by September 2016 and will enter into service in November 2016 after delivery and commissioning at Port of Montevideo.

Since FSRUs first came into practical use in 2005, plans to operate them have been developing in many places around the world as they provide a competitive solution for receiving LNG because of timing and cost effectiveness.

Participation in this project marks an important milestone for MOL to enter into the expanding business field. As the world’s largest LNG carrier operator, with vast experience in LNG loading and discharging, vessel operation, and maintenance gained over more than 30 years of operating LNG carriers, MOL will take further active steps to develop more new business opportunities in this field that promises growth.

FSRU outlines
Length： 345.00 m
Beam： 55.00 m
LNG storage capacity： 263,000 m3
Regassification capacity： 540 MMSCFD
(LNG conversion: about 10,900 MT/day)
Mooring method： Jetty mooring

(*1) Gas Sayago Co.
A joint venture between Uruguay state oil company ANCAP and state power company UTE.

(*2) FSRU
Floating Storage Regasification Unit. A floating facility for storing and regasifying LNG, which is then pressurized and piped ashore.

Outlines of the LNG Receiving Terminal
The receiving terminal will be located four kilometers offshore off the Port of Montevideo, Uruguay, where FSRU will be moored on off shore jetty protected by breakwater. The FSRU will deliver natural gas ashore through high pressure arms located on the jetty head. The natural gas will be sent ashore via an subsea pipeline.

Mitsui O.S.K. Lines, Ltd. press release