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MOL to participate in LNG receiving terminal project in India

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LNG Industry,

Mitsui O.S.K. Lines Ltd (MOL) has announced that it has signed agreements with Swan LNG Private Ltd regarding an LNG receiving terminal project in India.

The agreements are for the long-term operation/maintenance of an FSRU, and for the provision and long-term operation/maintenance of a floating storage unit (FSU). These units will serve as the core receiving facilities in an LNG terminal to be developed by Swan Energy Ltd in Gujarat, India.

The FSRU that will serve the project is being ordered and owned by Swan Energy through its subsidiary, and MOL has an option to take part in the vessel’s joint ownership. The option is exercisable any time before delivery of the unit at the shipyard.

In addition to this, MOL claims that it will invest in Swan LNG, and will take part in a number of facets of the project as technical partner. The terminal is scheduled to commence operations in early 2020.

This project will be India’s first ever newbuilding FSRU project. It is part of MOL’s initiatives to “pursue vertically integrated businesses that are not limited to transportation in the LNG business” on top of expansion of the LNG business in the growing Indian market.

The 294 m long FSRU will have a tank capacity of 180 000 m3, whilst the FSU will have a tank capacity of 135 000 – 145 000 m3. The main terminal facilities will also consist of breakwater, jetty mooring and onshore facilities. Overall, the terminal will have a receiving capacity of 5 million tpy.

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India LNG news LNG project news LNG import news Offshore LNG news