Photo: Illustration only; Courtesy of MOL

MOL signs charter for new Arctic LNG 2 ice-breaking carrier

Japanese shipping major Mitsui O.S.K. Lines (MOL) has signed a charter contract for a newbuilding ice-breaking carrier to serve Russia’s Arctic LNG 2 project.

MOL signs charter for new Arctic LNG 2 ice-breaking carrier
Illustration only; Courtesy of MOL

MOL agreed to participate in cargo transport for the Arctic LNG 2 project on Russia’s Gydan Peninsula. In addition, a MOL subsidiary signed this charter deal for a newbuilding ice-breaking tanker with the project company, whose largest shareholder is Novatek.

Chinese Guangzhou Shipyard, a subsidiary of China State Shipbuilding Corporation (CSSC), will construct the vessel and deliver it in 2024. The vessel will have a capacity of 54,800 cubic metres.

Moreover, this contract follows the October 2020 signing of charter contracts for three ice-breaking LNG carriers for the same project.

The ice-breaking carrier will transport condensate from the LNG plant inside the Arctic Circle on the Gydan Peninsula, mainly to Europe via the Northern Sea Route.

MOL has operated three ice-breaking LNG carriers on the Northern Sea Route for the Yamal LNG Project since March 2018. In addition, three ice-breaking LNG carriers for the Arctic LNG 2 project will go into service in 2023.

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The Japanese giant says it will further enhance its experience and know-how on the Northern Sea Route through its involvement in transporting LNG; it works to expand the maritime transport of this next-generation, environment-friendly energy resource from the Russian Arctic.

It will also ensure stable access to energy produced in the Russian Arctic to supply Japan and promote decarbonization.