MOL Selected as Preferred Shipowner for Newbuilding FSRU for Gaz System

(Left: FSRU, right: LNG carrier) Courtesy of GAZ-SYSTEM

February 02, 2024 Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto, Headquarters: Minato-ku, Tokyo), the only company that owns and operates FSRU in Asia, has been selected as the preferred shipowner to time charter out a Floating Storage and Regasification Unit (FSRU) for the planned LNG import terminal in the Gulf of Gdańsk, Poland. Polish Gas Transmission System Operator, GAZ-SYSTEM S.A. (Gaz System) is the project developer and operator behind the future LNG terminal.

This is Poland’s first such FSRU and is a strategically important piece of energy infrastructure which will enhance the country’s energy security. The FSRU is assumed to be berthed at a mooring platform approximately 3km from the shore, in the area of the Port of Gdańsk between the mouths of the Vistula River branches: Śmiała and Martwa. As part of the project, the necessary offshore and onshore infrastructure will also be constructed.

Commissioning of the complete project is planned in 2027/2028.

Courtesy of GAZ-SYSTEM

– The selection of the LNG Floating Storage and Regasification Unit supplier is an important milestone in the implementation of the FSRU Program which Gaz System has pursued for many months now. In the near future, we will focus on developing the detailed terms of the so-called Time Charter Party. Further, we need to obtain all necessary corporate approvals from Gaz System’s management bodies to sign the agreement with the shipowner – said Andrzej Kensbok, Vice President of GAZ-SYSTEM Management Board.

– Being selected for this strategically important project for Poland has been a great honor for MOL and we are committed to working closely with Gaz System to deliver Poland’s first FSRU which would not only strengthen the energy security in Poland, but in the region in the long-term. This project also aligns with MOL’s Group Vision of realizing a sustainable society through the development of social infrastructure businesses and the provision of lower emission energy. We are confident that the vast operational and technical experience we have garnered through our 140 years of history in the industry, along with our financial capability, will enhance the project and ensure a seamless, safe and efficient service is provided to Gaz System. – said Toshinobu Shinoda, Senior Managing Executive Officer in charge of Europe and Africa region, Mitsui O.S.K. Lines, Ltd.

MOL Group Vision is to develop various social infrastructure businesses centered on the ocean shipping business and meet the changing needs of society, including environmental conservation, through the evolution of technology and services. In addition to the MOL Group Vision, this project is also consistent with the expansion of offshore and non-shipping businesses set forth in the “BLUE ACTION 2035” group management plan, as well as the “MOL Group Environmental Vision 2.2” which calls for measures to “Expand Low-carbon/decarbonized business by leveraging the Group’s collective strengths.” With these contributions to the sustainable development of society and the preservation of nature, from the blue oceans, we sustain people’s lives and ensure a prosperous future.

FSRU (Floating Storage and Regasification Unit) is a floating facility and 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.

MOL Group 5 Sustainability Issues

MOL Group identifies “Sustainability Issues” (Materiality) as our key issues for sustainable growth with society through realization of the Group Vision.
We anticipate this initiative to contribute especially to the realization of “Safety & Value -Provide added value through safe transportation and our social infrastructure business-” and “Environment -Conservation for Marine and global environment-“, “Innovation -Innovation for development in marine technology-.”

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MOL, Gaz System, Poland, Floating Storage and Regasification Unit, FSRU, Port of Gdańsk, BLUE ACTION 2035

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