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June 25, 2019updated 26 Jun 2019 10:29am

MOL and Hong Kong LNG Terminal sign long-term charter contract

Hong Kong LNG Terminal has signed a charter contract with Mitsui OSK Lines (MOL) to supply a floating storage and regasification unit (FSRU) for an offshore terminal project. 

Hong Kong LNG Terminal has signed a charter contract with Mitsui OSK Lines (MOL) to supply a floating storage and regasification unit (FSRU) for an offshore terminal project.

The long-term contract will cover jetty operation and maintenance services as well as port services for the project.

To deliver services to this first FSRU project for Hong Kong, MOL will deploy the MOL FSRU Challenger, which has a storage capacity of 263,000m³.

MOL said that the FSRU was built at Daewoo Shipbuilding & Marine Engineering in South Korea in 2017. At present, it has been deployed on a mid-term charter for a project in Turkey.

The MOL FSRU Challenger will be moved to Hong Kong to start testing and commissioning once the construction of Hong Kong Offshore LNG Terminal project concludes, which is expected to be in 2021.

The Hong Kong Offshore LNG Terminal will be situated to the south of Hong Kong and to the east of the Soko Islands.

Under the agreement, the FSRU will deliver gas to two Hong Kong sites; the Black Point Power Station in the New Territories and Lamma Power Station at Lamma Island.

MOL has also reached an agreement with Netherlands-based independent tank storage company Royal Vopak for this project.

Using its global track record in LNG terminal operation, Royal Vopak will support project development related to the jetty operation and maintenance services.

Hong Kong LNG Terminal is a joint venture between the Castle Peak Power Company (CAPCO) and The Hongkong Electric Company.

CAPCO is a project between CLP Power Hong Kong and China Southern Power Grid International (HK) Co.

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