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MOL subsidiary concludes long-term charter with Uruguayan JV for FSRU

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LNG Industry,

Lakler S.A. has concluded a long-term charter contract with Gas Sayago of Uruguay for a floating storage and regasification unit (FSRU) project, led by Gas Sayago. Gas Sayago is a joint venture (JV) owned by UTE – the Uruguayan state power company – and ANCAP – the state oil company. Lakler is a wholly owned subsidiary of Mitsui O.S.K. Lines (MOL).

The FSRU will feature a 263 000 m3 LNG storage tank, and will provide gas to both Uruguay and its neighbouring countries. It will also be capable of reloading LNG cargoes to shuttle tankers, and transporting gas through pipelines. These features will enable both Uruguay and its neighbouring countries access to LNG re-export services and LNG bunkering services.

The vessel is currently being built in South Korea by Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME). Once it has been completed, it will enter 20 years charter, commencing in 1H18.

MOL claims that the contract signing ceremony was held in Montevideo, Uruguay, and will take effect once government approval is granted, which is expected to occur in 2016.

Edited from press release by David Rowlands

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