MOL to establish LNG-focused offshore gas project division

Japan’s shipping giant Mitsui O.S.K. Lines plans to establish an offshore gas project division to focus specifically on LNG projects. 

As part of the company’s restructuring plans, the offshore gas project division would focus on businesses related to the LNG field in energy value chains. These would include FSRU projects and LNG Powership business.

The company said in its statement the new division would be tasked with accelerating the enhancement of offshore business, in which the company is concentrating the investment of management resources.

The division would also have specific responsibilities in crude oil field such as FPSO projects, shuttle tanker projects and the subsea support vessel business, MOL said.

Within the new structure, the offshore gas project division would be a part of MOL’s Energy Transport Business unit.