Mitsui O.S.K. Lines, Ltd. (MOL) has proudly announced the acquisition of Approval in Principle (AiP) from Nippon Kaiji Kyokai (ClassNK) for the design of a Floating Storage and Regasification Unit (FSRU) dedicated to ammonia. Developed collaboratively by MOL and Mitsubishi Shipbuilding Co., Ltd., a subsidiary of the Mitsubishi Heavy Industry (MHI) Group, this cutting-edge technology marks a pivotal step in advancing the safe use of ammonia for decarbonizing society.
This AiP reinforces MOL’s commitment to the meticulous design and development of the ammonia FSRU, a breakthrough technology facilitating the extensive storage and distribution of maritime ammonia. By embracing the ammonia FSRU concept, MOL aims to play a crucial role in fostering the ammonia value chain as a sustainable and carbon-neutral fuel alternative.
The FSRU, a floating facility tailored for liquefied gases, integrates storage tanks and a regasification facility. Operating at sea, it vaporizes liquified gas and transports it ashore. Noteworthy advantages of FSRUs include lower costs and shorter construction periods compared to equivalent onshore facilities. MOL’s extensive experience in operating FSRUs for liquefied natural gas (LNG) positions the company as a frontrunner in adopting this innovative technology.
In collaboration with ClassNK and Mitsubishi Shipbuilding, MOL conducted a comprehensive Hazard Identification Study (HAZID), scrutinizing potential hazards and associated risks in the design of the ammonia FSRU. Preceding the HAZID, MOL executed a gas dispersion study, the results of which played a crucial role in evaluating risks quantitatively. This data-driven approach enabled the HAZID team to pinpoint specific preventive measures and countermeasures against potential ammonia leaks.
The insights gained from these studies will be invaluable as the MOL Group endeavors to expand its business into ammonia FSRUs. Aligned with the “MOL Group Environmental Vision 2.2,” the company has set an ambitious mid-to-long-term target of achieving net zero greenhouse gas (GHG) emissions by 2050. Additionally, the FSRU project aligns seamlessly with MOL’s business portfolio reforms, emphasizing profitability even in the face of an ocean shipping recession, as outlined in the group management plan “BLUE ACTION 2035.”
As part of the broader strategy, MOL is not only fortifying its shipping businesses, including offshore operations, but also investing in market-oriented ventures anticipated to yield high returns. The FSRU project underscores the group’s commitment to sustainable business practices and innovation.
With an eye on the future, the MOL Group is dedicated to developing various social infrastructure businesses that address evolving societal needs, particularly in environmental conservation. The recently approved ammonia FSRU design is a testament to MOL’s resolve to lead the industry with innovative technology and services that meet the demands of a changing world.
