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Uniper and Mitsui O.S.K. Lines in FSRU deal for LNG bunkering

18 Dec 2018

Uniper SE and Mitsui O.S.K. Lines, Ltd. on Monday reached an agreement to continue and intensify their efforts to implement an FSRU (Floating Storage and Regasification Unit) at the Uniper site in Wilhelmshaven, Germany.

In the project, Mitsui O.S.K. Lines has intention to own, operate and finance the FSRU, while project developer Uniper will continue to work closely with the relevant authorities to receive the permits for the operation of the facility and to gather interest for regasification capacity from additional market participants.

The FSRU, with a planned send-out capacity of 10 bcm/a and an LNG storage capacity of 263,000 m³, will be designed to allow for the loading of small-scale barges to enable the use of LNG as marine fuel. Further, onward transportation of LNG on trucks will be possible.

The facility could be in operation as early as the second half of 2022.

“We are glad that we were able to get such an experienced partner as Mitsui O.S.K. Lines on board for the development of Germany’s first LNG terminal,” stated Keith Martin, Chief Commercial Officer of Uniper SE.

“Our partnership with MOL combined with the FSRU technology as well as Wilhelmshaven’s uniqueness in Germany, provide the fastest and most economical way to realise LNG imports directly into Germany. This will also be to the benefit of the end-customers.”

Takeshi Hashimoto, Senior Managing Executive Officer of MOL, stated: “We continue to support Uniper through our existing strong relationship and cooperation to secure Germany’s first LNG terminal in Wilhelmshaven.”

In addition to the agreement in respect of the FSRU Wilhelmshaven, Uniper and MOL entered into a binding transportation agreement. Under the agreement MOL will provide Uniper with shipping capacity equivalent to a 180,000 m³ LNG carrier.

The agreement will commence in December 2020. Uniper intends to use the additional shipping capacity to optimize LNG volumes sourced from Freeport, U.S., and to further leverage its expanding LNG trading activities.

Published: 18 December, 2018
 

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