Page 11 - GLNG Week 50 2021
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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
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