MOL and Karadeniz move ahead with floating gas power station venture

Mitsui OSK Lines (MOL) and Karadeniz Holding are pushing ahead with the first LNG powership project under new brand KARMOL. The joint venture will deploy an FSRU and a powership – a floating power station – to aid the national grid of Mozambique.

The FSRU is now being converted from an existing LNG carrier while the Powership is currently operating with heavy fuel oil in Mozambique, but will switch to LNG after the FSRU delivery.

Max Tonela, Mozambique’s minister of mineral resources and energy, said “This project contributes to our national strategy of increasing the availability and reducing the costs of fuel to generate electricity for industrial development and energy access. This project does it through LNG, a critical fuel for Mozambique’s future”.

The two partners said today they are looking for other gas powership possibilities around the world.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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