MOL reaches LNG transport agreement with Osaka Gas and Kyushu Electric Power
Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced the conclusion of a contract for a long-term liquefied natural gas (LNG) transport with Osaka Gas Co., Ltd. (President: Hiroshi Ozaki) and Kyushu Electric Power Co., Ltd.(President: Michiaki Uriu), the Japanese carrier’s press release said.
As MOL has concluded the contract with Osaka Gas and Kyushu Electric Power, it will soon sign a contract with Mitsubishi Heavy Industries Co., Ltd. (MHI) for construction of a 155,000cm3 LNG carrier.
Contract term: 12 years from 2020. Transport volume: 800,000 tons/year for Osaka Gas and 300,000 tons/year for Kyushu Electric Power.
The vessel will transport LNG that Osaka Gas and Kyushu Electric Power purchase from Ichthys LNG liquefaction terminal. This contract marks the first time that an LNG carrier wholly owned by a Japanese shipping company will serve on joint transport for electric power and gas companies in Japan.
LNG has drawn attention as an environment-friendly energy resource. New large-scale projects are being planned in North America and East Africa, setting the stage for increased demand for LNG transport. MOL strives to further expand its LNG transport services by using experience, know-how, and networks accumulated as the world's largest LNG carrier owner and management company by meeting a broad range of customer needs.
The new LNG carrier is the same type as two newbuilding vessels (constructed by MHI) slated for launching in 2014 and 2015 to transport LNG to Osaka Gas. It features a continuous tank cover that houses the four spherical LNG storage tanks, reducing weight while maintaining the overall vessel strength. It also adopts a new steam turbine engine that captures and uses reheating steam, contributing to higher fuel efficiency.
Ship’s characteristics:
Length - about 288.0m
Breadth - 48.94m
Draft -11.55m
Gross tonnage -138,000 tons
Deadweight capacity - 75,000 tons
Speed - 19.5 knots
