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MOL to continue Uruguay LNG FSRU project

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LNG Industry,

Mitsui O.S.K. Lines (MOL) has announced that it has reached an agreement with Gas Sayago, continuing the floating storage and regasification unit (FSRU) project led by Sayago. Sayago is a joint venture (JV) between the Uruguayan state oil company, ANCAP, and the state power company, UTE.

This follows the Uruguayan government’s recent cancellation of its contract with GNLS S.A. – a JV between ENGIE and Marubeni Corp. – and its decision to continue the project with MOL.

In October 2013, MOL signed a 20-year charter with GNLS for an FSRU in the port of Montevideo, Uruguay. GLNS was entrusted with the ownership, operation and construction of the LNG terminal project, but now MOL will take over these responsibilities.

The project’s FSRU is currently being built at Daewoo Shipbuilding & Marine Engineering Co. Ltd in South Korea, and will have an LNG storage tank capable of holding 263 000 m3 of LNG. This will be the largest FSRU in the world, and will be delivered to Uruguay in mid 2017.

Edited from press release by David Rowlands

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