Japan’s MOL inks Yamal LNG charter deals

Japan’s Mitsui O.S.K. Lines (MOL) said Thursday it had signed a long-term charter contract for four LNG carriers which will serve the Novatek-operated $27 billion Yamal LNG project in the Russian Arctic.

The four 174,000-cbm LNG carriers will be delivered and serve on Yamal LNG project in 2019 and 2020 onwards, according to a MOL statement.

MOL did not provide any additional info on the vessels.

The Yamal LNG project is expected to ship its first cargo before October this year.

The liquefied natural gas project in the Yamal peninsula in Siberia is expected to produce a total of 16.5 million tons of LNG per year. Almost all of the volumes from the project have already been contracted.

Shareholders in the Yamal LNG project are Novatek, as the operator with a 50.1 percent stake, CNPC and Total with 20 percent stake each and China’s Silk Road Fund with a 9.9 percent stake.