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MOL, Vopak partner on FSRU for Hong Kong
PROJECTS & MITSUI OSK Lines (MOL) and Royal Vopak FSRU projects, while Vopak operates four LNG
COMPANIES announced this week that they had agreed to terminals and more than 300 jetties across its
jointly own and operate a floating storage and global network.
regasification unit (FSRU) set to serve the first “An ideal complementary relationship works
Hong Kong LNG import terminal. by combining Vopak’s many years of experience
Under the terms of the agreement, Vopak as a terminal operator for oils, chemicals and liq-
will acquire 49.99% of the shares in MOL’s ves- uefied gas with MOL’s know-how of LNG carrier
sel-owning company, which owns the MOL and FSRU operations,” stated MOL’s president
FSRU Challenger. The vessel will be renamed and CEO, Takeshi Hashimoto.
Bauhinia Spirit. “This co-operation gives Vopak an excellent MOL and Vopak
The joint venture will then enter into a long- entry in the growing LNG market in Hong Kong
term agreement with the Hong Kong LNG and fits our ambition to diversify our service added that they
Terminal company to provide the FSRU, jetty offering in LNG by investing in FSRUs,” added
maintenance and port services to the new off- Vopak’s chairman of the executive board and were aiming to
shore LNG terminal being built in Hong Kong. CEO, Eelco Hoekstra.
The terminal, which is located around 25 MOL and Vopak added that they were aim- explore further
km south-west of Hong Kong Island, is antici- ing to explore further downstream opportunities downstream
pated to enter service around mid-2022. Hong for bunkering of LNG as a marine fuel in Hong
Kong LNG Terminal owns the offshore jetty Kong, which is one of the major bunkering ports opportunities for
platform for the mooring of the FSRU and of fuel oils for marine transportation. MOL is
LNG carriers. planning to operate around 90 LNG-fuelled ves- bunkering of LNG
The new agreement builds on one struck by sels by 2030 as part of its plan to achieve net-zero
MOL with Hong Kong LNG Terminal in 2019 to greenhouse gas (GHG) emissions by 2050. as a marine fuel.
supply the FSRU, as well as jetty operation and Hong Kong LNG Terminal is a joint venture
maintenance services and port services for the between the two utility companies in Hong Kong
project. – Castle Peak Power Co. (CAPCO) and Hong
MOL and Vopak said in a statement that the Kong Electric. CAPCO, in turn, is a joint ven-
FSRU is the world’s largest, with a storage capac- ture between CLP Power Hong Kong and China
ity of 263,000 cubic metres and regasification Southern Power Grid International. The compa-
capabilities of 800mn cubic feet (23mn cubic nies’ partnership on the LNG terminal comes as
metres) per day. The companies also noted that Hong Kong pursues a goal of net-zero emissions
MOL is involved in over 100 LNG carrier and by 2050.
Week 50 17•December•2021 www. NEWSBASE .com P11