On Friday, Japan’s Mitsui OSK Lines announced that they have joined India’s first newbuilding floating, storage and regasification (FSRU) project.
A deal has been signed with Swan LNG Pvt Ltd. for the long-term operation and maintenance of a FSRU and a floating and storage unit to serve as core receiving facilities in an LNG terminal to be developed by Swan Energy in Jafrabad, Gujarat.
The FSRU is being ordered and owned by Swan Energy through its subsidiary, Triumph Offshore, that signed a shipbuilding deal with South Korea’s Hyundai Heavy Industries and MOL has an option to participate in joint ownership. The option is exercisable any time before the delivery of the FSRU.
Also, MOL will invest in Swan LNG and participate in many facets of the project as a technical partner. The terminal is slated to start operation in early 2020 and its facilities include the FSRU (tank capacity: 180,000m3), the FSU (tank capacity: 135,000m3 -145,000m3, breakwater, jetty mooring and onshore facilities with an LNG receiving capacity of 5 million tons per year.