Mitsui wins gas plan deals

 THE PNG liquefied natural gas (LNG) project has awarded Japanese transport company Mitsui OSK Lines Ltd (MOL) two long-term charters, The National reports.

The charters are for MOL’s two existing 177,000 cubic meter capacity LNG carriers with the state-of-the-art tri-fuel-diesel electric propulsion systems built in Korea at Hyundai yards this year and co-owned by Itochu Corp (Itochu) (MOL 70% and Itochu 30%).

The vessels are to be operated by MOL.

Simultaneously, MOL has entered into two heads of agreement, one with the PNG LNG project and one with an ExxonMobil affiliated company in the Gorgon project. Here, MOL will construct and long-term charter a total of four LNG vessels to the projects, all of which are planned to be built in China.

Deliveries will start in 2014-16 timeframe.

According to the statement, MOL has a proven track record of providing first class transportation for large scale LNG projects in the Asia Pacific and Middle East regions for over 30 years.

MOL also acknowledged ExxonMobil for their long association and their affiliates and joint ventures and was looking forward to working with them and their partners in the years ahead.