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MOL signs FSRU charter for Hong Kong LNG terminal

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LNG Industry,

Mitsui O.S.K. Lines, Ltd. (MOL) has announced that MOL has entered into a long-term charter contract with Hong Kong LNG Terminal Ltd., to supply a floating storage and regasification unit (FSRU), as well as Jetty Operation & Maintenance Services and Port Services for the Hong Kong Offshore LNG Terminal Project.

MOL will utilise the MOL FSRU Challenger, built in 2017 with a storage capacity of 263 000 m3, which remains the largest FSRU in the world today, to provide services to this first FSRU project for Hong Kong. Hong Kong is the historical centre of MOL’s extensive overseas network and such business experience in Hong Kong has led MOL to the participation of this project.

The FSRU was constructed at Daewoo Shipbuilding & Marine Engineering Co., Ltd. in South Korea and is currently employed on a mid-term charter for a project in Turkey. The Hong Kong Offshore LNG Terminal will be located at the southern waters of Hong Kong and to the east of the Soko Islands. The FSRU will be delivered to Hong Kong to begin testing and commissioning when the project finishes construction, currently expected in 2021. The FSRU will supply gas to two destinations in Hong Kong, the Black Point Power Station located in the New Territories and Lamma Power Station located at Lamma Island. The project is being developed to support the Hong Kong Special Administrative Region (HKSAR) government’s plan to increase the percentage of power generation from natural gas to meet its pledged environmental targets.

In addition, MOL has entered into an agreement with Royal Vopak for this project. Vopak will assist in the project development related to the jetty operation and maintenance services.

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