Japanese shipping conglomerate Mitsui O.S.K. Lines, Ltd. (MOL) has signed a long-term Time Charter Party (TCP) Agreement, through its 100% subsidiary, for one Floating Storage and Regasification Unit (FSRU)  with the Polish Gas Transmission System Operator, GAZ-SYSTEM S.A. (Gaz System), the project developer and operator behind the future LNG terminal.

The FSRU with 294m length, 46m width and 170,000 m3 LNG tank storage capacity  will be constructed by South Korean shipbuilder HD Hyundai Heavy Industries shipyard and is expected to be completed in 2027, and thereafter will be managed by the MOL group.

The project involves the construction of a new floating LNG receiving terminal approximately 3 km offshore from the Polish port of Gdańsk and 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 from 2027-2028.

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.

Source: Mitsui O.S.K.