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Swan Energy confirms MOL’s participation in FSRU project

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LNG Industry,

Swan Energy has confirmed that Mitsui OSK Lines has secured an 11% stake in Swan LNG’s FSRU project in Jafrabad, Gujarat.

A FSRU is currently under construction at Hyundai Heavy Industries in South Korea.

MOL will supervise the progress of the unit and will also be the technical partner for the implementation of the LNG project.

The import terminal will be based near Jafrabad in Gujarat and will be ready by end-2019.

MOL confirmed its participation in the project in early September but did not give details about its ownership status.

Besides the 11% stake held by MOL, Swan Energy will control 63%, Gujarat Maritime Board 15% and Gujarat State Petronet 11%.

Nearly 90% of the terminal’s 5 million t capacity has been booked by a number of state-owned companies.

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