MOL, Gas Sayago Move Forward with Uruguay LNG FSRU Deal

Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, a joint venture between Uruguay’s state oil company ANCAP and state power company UTE, for a floating storage and regasification unit (FSRU) project in Montevideo, Uruguay.

The two companies aim to reach a final deal on the project in June this year, MOL said.

The FSRU that is intended to serve this project is currently under construction at Daewoo Shipbuilding & Marine Engineering in South Korea.

According to MOL, it will be equipped with the largest LNG storage tank (263,000m3) of any FSRU in the world. After completion at the shipyard, it will travel to Uruguay to begin LNG receiving and regasifying operations. The FSRU is expected to be ready for service in mid-2017.

The groundwork for the deal was set in October, 2015 when MOL reached a basic agreement with Gas Sayago, to continue the FSRU project, following cancellation of a contract by Uruguay’s government with GNLS S.A., a 50-50 joint venture between ENGIE of France and Marubeni Corporation.

In October 2013, MOL signed a 20-year charter contract for an FSRU in the port of Montevideo, Uruguay, with GNLS, which was entrusted with the construction, ownership, and operation of the terminal project. This is the first FSRU project in which MOL will solely build, own, and operate the facility.

As MOL anticipates continued growth in the FSRU field, the company said that it was “aggressively seeking new opportunities, drawing upon more than 30 years of experience and a strong track record in LNG loading/discharging, vessel operation, and maintenance.”

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2018 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

The 27th World Gas Conference

The 27th World Gas Conference is the leading global industry event and is the definitive gathering of influential leaders, buyers and sellers, policy-makers and experts from around the world.

You will hear critical business insights and lively debates on the most topical issues facing the global gas industry today and in the future.

From 25-29 June 2018, Washington DC is expected to host 12,000 attendees, 500 speakers and 350 exhibitors representing, more than 600 companies from 100 countries.

Presented by the IGU, this is the largest and most high-profile gas event that is conducted by the industry for the industry.

Read More

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

BlueWeek2018

The BlueWeek2018 will be held on 28-29-30 May in Rotterdam, under the auspices of the Blue Forum…

read more >

Posidonia 2018

Posidonia, the international shipping exhibition, has long been established as one of the major calendar events…

read more >