MOL and Vopak reach agreement to jointly own and operate the FSRU for the new LNG terminal in Hong Kong
16 Décembre 2021 - 8:00AM
MOL and Vopak reach agreement to jointly own and operate the FSRU
for the new LNG terminal in Hong Kong
MOL and Vopak reach agreement to jointly own
and operate the FSRU for the new LNG terminal in Hong
Kong 16 December 2021 - Tokyo, Japan / Rotterdam,
the Netherlands
- Vopak will acquire 49.99% of the
vessel owning company of MOL that owns a floating storage and
regasification unit (FSRU) MOL FSRU Challenger, to be renamed
Bauhinia Spirit.
- MOL and Vopak will jointly own
and operate the FSRU and provide jetty operations & maintenance
and port services for a new FSRU-based offshore LNG terminal in
Hong Kong.
- MOL and Vopak through the new
FSRU based-terminal contribute to the energy transition in Hong
Kong.
- MOL and Vopak aim to explore
further downstream opportunities for bunkering of LNG as a cleaner
marine fuel in Hong Kong.
Mitsui O.S.K. Lines Ltd. (MOL) and Royal Vopak (Vopak) announce
an agreement has been reached, whereby Vopak will acquire 49.99% of
the shares in the vessel owning company of MOL FSRU Challenger,
whose name will be changed to Bauhinia Spirit. This new joint
venture company between MOL and Vopak in Hong Kong will own the
world’s largest floating storage and regasification unit (FSRU) and
have a long-term contract with Hong Kong LNG Terminal Limited 1.
The FSRU has a storage and regasification capacity of 263,000 cbm
and 800 mmscfd, respectively. Under the contract, the joint venture
will provide the FSRU as well as jetty operations & maintenance
and port services. The offshore jetty platform for the
mooring of the FSRU and LNG carriers are owned by Hong Kong LNG
Terminal Limited. The terminal is currently under construction and
is expected to be operational around mid 2022. The terminal will be
located offshore about 25 km southwest of Hong Kong Island. The
terminal will provide natural gas feedstock to the customer’s
dedicated power plants. It is being developed to support the Hong
Kong Special Administrative Region (HKSAR) government’s target to
improve air quality and environmental conditions by increasing the
percentage of power generation by natural gas. Both MOL and Vopak
are excited to contribute to the success of Hong Kong's first ever
LNG import terminal based on the companies’ complementary
strengths, combining their experiences related to the LNG industry
including FSRU, and offshore jetty platform operations &
maintenance respectively. Being the global market leaders in their
respective fields, MOL is involved in over 100 LNG carrier and FSRU
projects with Vopak having a portfolio of 4 LNG terminals in
operation and more than 300 jetties across its global terminal
network. “An ideal complementary relationship works by
combining Vopak’s many years of experience as a terminal operator
for oils, chemicals and liquefied gas with MOL’s know-how of LNG
carrier and FSRU operation. MOL looks forward to further working
with Vopak on this promising project and feels confident that with
our joint forces, we will be able to establish a safe and reliable
operation structure for the Hong Kong FSRU project. ” said Takeshi
Hashimoto, President & CEO of MOL. Eelco Hoekstra, Chairman of
the Executive Board & CEO of Royal Vopak, said “We very much
look forward to further strengthening our partnership with MOL and
to actively contribute together to the energy transition policy of
the government in Hong Kong. This cooperation gives Vopak an
excellent entry in the growing LNG market in Hong Kong and fits our
ambition to diversify our service offering in LNG by
investing in FSRUs.” This agreement follows MOL’s earlier
announcement whereby MOL has entered into a long-term contract with
the customer and an agreement with Vopak for jetty support. The
transaction is subject to customary conditions, including closing,
refinancing and obtaining (regulatory) approvals, with the expected
completion after the commissioning of the terminal around mid 2022.
Based on these joint initiatives, MOL and Vopak also aim to explore
further downstream opportunities for bunkering of LNG as a cleaner
marine fuel in Hong Kong, which is one of the major bunkering ports
of fuel oils for marine transportation. MOL has a plan to operate
approximately 90 LNG-fueled vessels by 2030, which is a part of MOL
Group Environmental Vision 2.1, aiming for Net Zero GHG emission by
2050. The FSRU outlineLength : 345.00 mBeam :
55.00 mLNG storage capacity : 263,000 m3Regas discharging capacity
: 800 mmscfdDelivery : 2017
1. Hong Kong LNG Terminal Limited is a
joint venture between the two utility companies in Hong Kong, the
Castle Peak Power Company Limited (CAPCO) and The Hongkong Electric
Company, Limited. CAPCO is a joint venture between CLP Power Hong
Kong Limited and China Southern Power Grid International (HK) Co.,
Limited.
Profile MOLMitsui O.S.K. Lines, Ltd. is a
multi-modal international shipping company headquartered in Tokyo,
Japan. MOL is one of the largest shipping companies in the world
and the largest LNG carrier operator. Our fleet includes dry cargo
ships, liquefied natural gas carriers, ro-ro car carrier ships,
tankers, and also diversified assets in maritime related
industries. We will develop a variety of social infrastructure
businesses in addition to traditional shipping businesses and will
meet the evolving social needs including environmental
conservation, with innovative technology and services. MOL group
aims to be a strong and resilient corporate group that provides new
value to all stakeholders and grows globally. For more information,
please visit https://www.mol.co.jp/en/index.html Profile
VopakRoyal Vopak is the world’s leading independent tank
storage company. We store vital products with care. With over 400
years of history and a focus on sustainability, we ensure safe,
clean and efficient storage and handling of bulk liquid products
and gases for our customers. By doing so, we enable the delivery of
products that are vital to our economy and daily lives, ranging
from chemicals, oils, gases and LNG to biofuels and vegoils. We are
determined to develop key infrastructure solutions for the world’s
changing energy and feedstock systems, while simultaneously
investing in digitalization and innovation. Vopak is listed on the
Euronext Amsterdam and is headquartered in Rotterdam, the
Netherlands. For more information, please visit www.vopak.com.
For more information: Vopak -
PressLiesbeth Lans, Manager External Communication,
global.communication@vopak.comVopak - Analysts and
investorsFatjona Topciu, Head of Investor Relations,
investor.relations@vopak.com MOLMedia Relations
Team, Corporate Communication Division, +81 (3) 3587 7015,
mrtmo@molgroup.com
- 2021-12-16 MOL and Vopak reach agreement to jointly own and
operate the FSRU for the new LNG terminal in Hong Kong
- Picture - MOL Vopak FSRU LNG Hong Kong
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