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MOL orders floating LNG terminal for Poland

The Japanese shipping group Mitsui O.S.K. Lines (MOL) has ordered a new FSRU, which is to be used as a floating LNG terminal in the Baltic Sea after delivery. A long-term charter contract is already in place.

MOL announced today that a corresponding contract has been signed with the Polish gas transmission system operator GAZ-System – the project developer and operator of the future LNG terminal.

After being selected as the “preferred bidder” in February, MOL and Gaz-System have now finalised their cooperation. The “Floating, Storage and Regasification Unit” will be built by the HD Hyundai Heavy Industries shipyard in South Korea and is scheduled for completion in 2027, after which it will be operated by the MOL Group.

Details:

  • Length 294 m
  • Width 46 m
  • LNG storage capacity 170,000 m³
  • Shipyard Hyundai Heavy Industries
  • Planned completion in 2027

MOL wants to expand “non-shipping business”

The project involves the construction of a new floating LNG receiving terminal about 3 km off the coast of the Polish port of Gdansk. The ship will play a key role as an import and storage facility. For the energy transition and after the “energy crisis” following the Russian war of aggression against Ukraine, some countries are relying on floating LNG terminals of this kind to make themselves less dependent on pipeline solutions and to diversify their energy supply. There are also similar projects in Germany.

The unit now ordered by MOL is to be the first FSRU to be deployed in Poland, which should contribute to the strategic strengthening of the country’s energy security. The fact that it has been classified by the EU as a “project of common interest” reflects its great importance for the continent’s energy supply.

According to MOL, the project is in line with the planned expansion of offshore and non-shipping activities set out in the “Blue Action 2035” management plan.

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Copyright: MOL

Caption: On the right is a so-called FSRU (Floating, Storage and Regasification Unit), a floating LNG terminal from MOL (© MOL)