Mitsui O.S.K. Lines, Ltd. (MOL) has inked a significant agreement with Gaz System, the Polish Gas Transmission System Operator, marking a pivotal step towards enhancing Poland’s energy security. The long-term Time Charter Party (TCP) Agreement, facilitated through MOL’s subsidiary, entails the construction and operation of a Floating Storage and Regasification Unit (FSRU) in Gdańsk, Poland.
The FSRU, slated for completion by 2027, will be constructed by Hyundai Heavy Industries shipyard in South Korea and subsequently managed by the MOL group. Positioned approximately 3 kilometers offshore from the port of Gdańsk, the FSRU will serve as a crucial receiving and storage facility for liquefied natural gas (LNG), contributing significantly to the country’s energy infrastructure.
This groundbreaking project signifies Poland’s first deployment of an FSRU, underlining its commitment to bolstering energy security. Furthermore, the initiative has garnered attention at the European level, being designated as a “Project of Common Interest” by the European Union, highlighting its regional significance in advancing energy infrastructure.
Aligned with MOL Group’s overarching vision and strategic plans, this venture underscores the company’s dedication to developing social infrastructure businesses and meeting evolving societal needs. It resonates with the “BLUE ACTION 2035” management plan, emphasizing the expansion of offshore and non-shipping businesses, as well as the “MOL Group Environmental Vision 2.2,” which advocates for low-carbon and decarbonized initiatives.
FSRU technology offers several advantages, including lower costs and shorter construction periods compared to equivalent onshore facilities. This project underscores MOL’s commitment to innovation and efficiency in meeting global energy demands.
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