MOL Inks FSRU Charter Deal for Hong Kong LNG Terminal

MOL FSRU ChallengerImage Courtesy: MOL

Japan’s shipping major Mitsui O.S.K. Lines (MOL) has signed a charter deal with Hong Kong LNG Terminal Limited for a floating storage and regasification unit (FSRU).

The FSRU would be used for the Hong Kong Offshore LNG Terminal Project (HKOLNG Project) . It would receive, store, and regasify LNG for the supply of natural gas to Castle Peak Power Company Ltd (CAPCO) and The Hongkong Electric.

In June 2018, MOL revealed that it was in exclusive discussions to provide its MOL FSRU Challenger for the Hong Kong Offshore LNG Terminal Project.

The 2017-built unit, constructed at Daewoo Shipbuilding & Marine Engineering, has a storage capacity of 263,000 m3.

At the time, MOL said that the FSRU is to enter into service at the terminal around the end of 2020 earliest after delivery and completion of commissioning.

MOL will also be responsible for providing operations and maintenance services for the FSRU vessel and the offshore LNG terminal.

In support of the government’s policy to reduce carbon intensity and increase the proportion of natural gas used for power generation by 2020, CLP Power and HK Electric first launched a study into building an offshore LNG terminal in 2016.

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