MOL signs deal on long-term charter contract for Uruguay LNG FSRU project

Lakler S.A., a 100% subsidiary of Mitsui OSK Lines, has officially agreed to conclude a long-term charter contract with Gas Sayago of Uruguay for a floating storage and regasification unit (FSRU) project.

The contract will take effect upon governmental approval which is expected to be granted by the end of 2016.

The company claims that the FSRU will be equipped with the largest LNG storage tank (263,000 cu m) of any FSRU in the world, and supply gas to Uruguay and its neighbouring countries. It is currently under construction in South Korea, and following completion, is set to enter 20 years charter starting in the first half of 2018.

The FSRU has the capability of re-loading LNG cargo to shuttle tankers as well as sending gas through pipelines. These specifications allow LNG re-export services and LNG bunkering services to the country and its neighbouring regions. The MOL Group continues its efforts and focus in developing the LNG secondary transport and LNG fuel supply businesses in Central and South America region, where strong growth of LNG demand is expected.

Source: MOL