LNG carrier delivered to Papua New Guinea

MOL will operate 'Papua' under a long-term charter contract for the PNG LNG project operated by ExxonMobil MOL will operate 'Papua' under a long-term charter contract for the PNG LNG project operated by ExxonMobil
Industry Database

Mitsui OSK Lines Ltd (MOL) has taken delivery of the first in a series of four LNG carriers that will be used to transport LNG from the Papua New Guinea and Gorgon Jansz LNG project in Australia.

Papua features a slow-speed diesel engine and reliquefaction system, has a cargo tank capacity of 171,800m3 and a speed limit of19.5 knots. It was built by Hudong-Zhonghua Shipbuilding (Group) Co Ltd for MOL, which will operate the 290m vessel under a long-term charter contract for the PNG LNG project operated by ExxonMobil.

The project scope is for the transportation of LNG for China’s major energy company, China Petroleum & Chemical Corporation (SINOPEC). The vessel is co-owned by China Shipping (Group) Company and SINOPEC, meaning there is substantial Chinese involvement in the project.

MOL says its relationship with its Chinese partners in this project led to an initiative to build a further six new LNG carriers for SINOPEC, in which MOL has participated since April 2013. These ships are now under construction at Hudong.

A total of 10 vessels, including the four serving the PNG LNG and Gorgon Jansz projects, will be completed by 2017.

These latest newbuilds are part of MOL’s ‘Steer for 2020’ midterm management plan. Its vision is for the company to increase its LNG carrier fleet from the current 66 vessels to 120 by 2020, including the 10 vessels serving the projects in China.

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