Japanese owner Mitsui OSK Lines (MOL) has entered into an agreement with LNG Terminal Wilhelmshaven (LTM), a fully owned subsidiary of German energy firm Uniper, for the construction and charter of a floating storage and regasification unit (FSRU) for operations in Wilhelmshaven, Germany.
LTW is the project developer and operator of the LNG terminal at Wilhelmshaven. The 263,000 cu m FSRU will be built at South Korean yard Daewoo Shipbuilding Marine Engineering (DSME) and chartered to LTW for 20 years.
“The agreement to build and charter this FSRU is an important milestone for both parties on the journey to establishing an LNG terminal in Wilhelmshaven; it underlines the joint desire for collaboration on this ambitious project. This new agreement will build on the successful and trusting collaboration with MOL on previous major projects in the LNG ship market,” said David Bryson, chief operating officer of Uniper.
“We are excited to move one step further to materialise Germany’s first Liquefied Natural Gas receiving project. Our Floating Storage and Regasification Unit of some 263,000m3 storage capacity is of a unique tailored design to meet all customer requirements to provide economical regasification service and comply with German Environmental Regulations,” said MOL executive officer Hiroyuki Nakano.
Uniper expects to carry out a competitive tender process in the summer to check the binding interest expressed by potential customers and make the final investment decision once the approval process for the project is completed.