TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) has recently declared that Lakler S.A., 100% subsidiary of MOL, has officially agreed to conclude a long-term charter contract with Gas Sayago of Uruguay, a joint venture between Uruguay’s state oil company ANCAP and state power company UTE, for a floating storage and regasification unit (FSRU) project, led by Gas Sayago. The contract will take effect upon governmental approval which is expected to be granted by the end of 2016.
The FSRU will be equipped with the largest LNG storage tank (263,000m3) of any FSRU in the world, and supply gas to Uruguay and its neighboring countries. After completion, it will enter 20 years’ charter starting in the first half of 2018.
The FSRU also 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 neighboring 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.
