MOL and Gaz-System Sing Long-Term FSRU Charter for New Polish LNG Terminal
Mitsui O.S.K. Lines (MOL) has signed a long-term time charter party agreement for one floating storage and regasification unit (FSRU) with the Polish gas transmission system operator Gaz-System, which is the developer and operator behind the future LNG terminal.
The FSRU will be constructed by HD Hyundai Heavy Industries shipyard and is expected to be completed in 2027. Thereafter, the FSRU will be managed by the MOL group.
The FSRU is being built for the project that involves the construction of a new floating LNG receiving terminal approximately 3 km offshore from the Polish port of Gdańsk.
It will have the LNG storage capacity of 170,000 m3, with the length of 294 meter and width 46 meters.
The vessel will play a key role in the terminal as receiving and storage facility. This will be the first FSRU to be deployed in Poland, which will contribute to the strategic strengthening of the country's energy security.
The project is also of great interest to Europe, as it has been designated by the EU as a Project of Common Interest, an infrastructure development project that contributes at a regional level.
The FSRU is a floating unit equipped with storage tanks and a regasification facility that receives liquified gas at sea, vaporizes it and sends it ashore. FSRU has the advantages of lower cost and shorter construction period than those of the equivalent facilities onshore.