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Mitsui O.S.K. Lines Announces LNG Project In India
Japanese firm Mitsui O.S.K. Lines (MOL) has announced that it will operate and maintain a new floating, storage and regasification unit (FSRU), which has been ordered by Swan Energy and that is due to be installed in an LNG terminal being developed by the firm in Gujarat.
The FSRU that MOL will be looking after will form the core receiving facilities at the new terminal, which is expected to be operational in the early part of 2020.
As well as signing an agreement to provide the operation and maintenance work for Swan Energy, MOL will also be investing in the project and providing its technical expertise during the development of the new terminal.
It also marks the first newbuild FSRU project in India, and aligns with MOL’s objective to “pursue vertically integrated businesses that are not limited to transportation in the LNG business,” the company asserted.
Once it’s completed, the facility will have one FSRU with a capacity of 180,000m3, as well as a second floating storage unit with a tank capacity of 135,000m3 to 145,000m3. Overall, it will be capable of receiving five million tons of LNG each year.
Last month, LNG World Shipping suggested that there could be a growing number of opportunities to develop LNG storage facilities in Asia as the gas is becoming the fuel of choice across the continent.
Countries such as Thailand, the Philippines, Indonesia, Malaysia and Vietnam are following the lead of the likes of Japan and South Korea and using LNG for energy security and power generation, and are hoping to join the LNG import market.
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