Mitsui O.S.K. Lines announced that MOL, along with a subsidiary of GDF Suez, has signed a 20-year time charter party for one floating storage regasification unit (FSRU). The FSRU will be a core facility for an LNG import project in Uruguay led by Gas Sayago. This is the first FSRU project for MOL to solely build, own, and operate such a unit.
The FSRU will have a storage capacity of 263,000 cubic meters of LNG, making it the world’s largest. Built by Daewoo Shipbuilding & Marine Engineering Co, in South Korea, the FSRU is to be completed by September 2016 and will enter into service in November 2016 after delivery and commissioning at Port of Montevideo.
Since FSRUs first came into practical use in 2005, plans to operate them have been developing in many places around the world as they provide a competitive solution for receiving LNG because of timing and cost effectiveness.
Participation in this project marks an important milestone for MOL to enter into the expanding business field.
FSRU outlines
Outlines of the LNG Receiving Terminal
The receiving terminal will be located four kilometers offshore off the Port of Montevideo, Uruguay, where FSRU will be moored on off shore jetty protected by breakwater. The FSRU will deliver natural gas ashore through high pressure arms located on the jetty head. The natural gas will be sent ashore via a subsea pipeline.
[mappress] LNG World News Staff, October 04, 2013; Image: GDF SUEZ, MOL