Mitsui O.S.K. Lines (MOL) has signed an agreement with Singapore LNG Corporation, Singapore's state-owned LNG terminal operator, on a long-term time charter contract for one newbuilding floating storage regasification unit (FSRU).
The FSRU will be built at Hanwha Ocean in South Korea. After delivery, planned for 2027, MOL will own, manage, and operate the FSRU.
The 200,000 m3 FSRU will be moored at the Jurong Port in Singapore, and will play a central role in receiving, storing and regasifying LNG, and sending gas to shore.
This first FSRU to be introduced in Singapore is an infrastructure project expected to contribute to a stable supply of energy for the country, where about 95% of domestic power generation is fueled by imported natural gas.