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MOL Announces New FSRU's Multi-Year Employment to Turkey-Based Project
= Instead of employment to currently-delayed LNG project in Uruguay =
A Japanese shipping giant Mitsui O.S.K. Lines Ltd. held a naming ceremony for its new FSRU "MOL FSRU CHALLENGER" at a shipyard of Daewoo Shipbuilding & Marine Engineering Co., Ltd. in South Korea on September 28. The Company plans to employ the new FSRU to an LNG project in Turkey and start operation within this year.

MOL FSRU CHALLENGER is one of world's largest FSRU with an LNG storage capacity of 263,000 m3 and the first FSRU built, owned and operated independently by Japanese shipping company. The new FSRU had initially been planned to be employed to a project in Uruguay, but the project has been falling behind schedule, and hence, the FSRU's destination has been changed to Turkey.

The charter contract for Turkey-based project seems to be multi-year contract — the charterer and other details have not revealed as of now. In the end, the new FSRU will be employed to Uruguay-based LNG project, but the schedule is uncertain at this point.

The Turkey-based project is MOL's first LNG project which the Company handles by independently operating the sole-owning FSRU. MOL FSRU CHALLENGER, planned to complete this October, has regasification and LNG re-shipping capabilities. MOL also plans to provide LNG secondary transport services such as re-export to neighbor countries and LNG fuel supply business.

As above, the world's largest FSRU will be delivered to Uruguay in the end. In the case Turkey requires the charter contract extension, MOL intends to consider to construct another FSRU.

Incidentally, MOL signed a long-term FSRU charter contract with Uruguay's state-run company Gas Sayago S.A. on July 2016 and had planned to employ the new FSRU for 20 years from 1H 2018.

<Outline of MOL FSRU CHALLENGER>
Length: 345.00 m / Breadth: 55.00 m / LNG storage capacity: 263,000 m3
Regas discharging capacity: 540 million m3/day
last modified : Tue 10 Oct, 2017 [12:00]
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