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MOL to participate in construction, ownership and operation of FSRU

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LNG Industry,


Mitsui O.S.K. Lines Ltd (MOL) has announced that it has signed deals for the construction of a floating storage and regasification unit (FSRU), FSRU services and financing for the Jawa 1 Gas-Fired Project.

The agreements were signed through PT Jawa Satu Regas (JSR), a joint company of PT Pertamina, Marubeni Corp., and Sojitz Corp., etc. MOL is entrusted with FSRU construction supervision, maintenance and operations services.

In this project, MOL claims that PT Jawa Satu Power (JSP), jointly established by Pertamina, Marubeni and Sojitz, will construct, own and operate a gas-fired power plant with a generating capacity of 1760 MW in Indonesia’s West Java province, while JSR will build, own and operate an FSRU at sea to store and regasify LNG to supply fuel to the power plant.

According to MOL, the power plant and the FSRU will be maintained and operated together, and the electricity produced by these facilities will be sold to PT PLN (Persero) – the Indonesian state-owned electricity utility – for over 25 years. The FSRU will feature the optimal tank capacity and regasification capacity tailored to the plant’s power generation capacity.

MOL claims that the project is co-financed by the Japan Bank for International Cooperation, Asia Development Bank, Mizuho Bank Ltd, MUFG Bank Ltd, Oversea Chinese Banking Corp., Crédit Agricole Corporate and Investment Bank, and Societe Generale Bank & Trust. Financing of private financial institutions is insured by Nippon Export and Investment Insurance.

Read the article online at: https://www.lngindustry.com/regasification/07122018/mol-to-participate-in-construction-ownership-and-operation-of-fsru/

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