Mitsui O.S.K. Lines, Ltd. has inked a significant long-term Time Charter Party Agreement for a Floating Storage and Regasification Unit with the Polish Gas Transmission System Operator, GAZ-SYSTEM S.A. This venture, facilitated through MOL’s subsidiary, underscores the strategic collaboration between the two entities towards bolstering Poland’s energy security. The FSRU, to be constructed by Hyundai Heavy Industries shipyard in South Korea, is slated for completion by 2027 and will be managed by MOL thereafter.

The project encompasses the development of a pioneering floating LNG receiving terminal off the Polish port of Gdańsk, with the FSRU serving as a vital component for gas receiving and storage. This initiative marks Poland’s maiden deployment of an FSRU, positioning it as a significant contributor to Europe’s energy landscape. Recognised as a “Project of Common Interest” by the EU, the endeavour aligns with regional infrastructure development objectives.

MOL’s commitment to societal and environmental well-being is reflected in its overarching vision to cultivate diverse social infrastructure businesses, including environmental conservation efforts, through technological advancements and services. The FSRU project is not only in harmony with MOL Group Vision but also complements the group’s strategic expansion into offshore and non-shipping sectors, as outlined in the “BLUE ACTION 2035” management plan. Furthermore, it aligns with the “MOL Group Environmental Vision 2.2,” focusing on expanding low-carbon and decarbonised business initiatives.

This initiative also serves as a testament to MOL’s dedication to regional strategies outlined in “BLUE ACTION 2035,” as it spearheads and promotes projects in collaboration with regional organisations in Europe and Africa. By contributing to the sustainable development of society and environmental preservation, MOL remains committed to enriching lives and fostering a prosperous future from the vast blue oceans.

FSRU (Floating Storage and Regasification Unit) technology offers cost-effective and efficient gas reception and processing capabilities compared to traditional onshore facilities. MOL’s selection as the preferred shipowner for this groundbreaking FSRU project underscores its expertise and commitment to driving innovative solutions in the maritime industry. For further details on the FSRU project, please refer to the press release dated February 2, 2024.

For more information visit www.mol.co.jp