Japan’s MOL pens charter deal with new Sakhalin LNG operator

Japan’s shipping giant MOL has signed a charter deal with the new operator of the Sakhalin-2 LNG export terminal in Russia for the 2008-built LNG carrier Grand Mereya.

MOL said in a statement it had signed the deal on October 4 via a unit owned 60 percent by the company with Sakhalin Energy LLC.

The 147,000-cbm vessel has been transporting LNG from the Sakhalin project under a long-term charter contract with Sakhalin Energy Investment Company Limited, the former operator of the project.

MOL said the contract had now been newly made with Sakhalin Energy LLC and the vessel would continue the same transport services.

“MOL complies with the sanctions imposed by the international community and responds appropriately while continuing to consult with various parties, including the Japanese government and project partners,” the firm said.

President Vladimir Putin signed a decree in June allowing Russia to take charge of the Sakhalin-2 project due to Western sanctions imposed on Russia.

Sakhalin Energy LLC, the new operator of the Sakhalin-2 project, launched its operations on August 19.

Shell had a 27.5 percent interest in in the original entity, while Russia’s Gazprom had a 50 percent operating stake. Japan’s Mitsui owned 12.5 percent stake and compatriot Mitsubishi had 10 percent in the plant.

Gazprom remains the operator of the new entity, while Mitsui and Mitsubishi won approvals from the Russian government to take stakes in the new operator.

Shell said it would not take equity in the new terminal operator.

The Sakhalin-2 LNG facility started producing LNG back in 2009 with a design capacity of 9.6 mtpa, but due to technical improvements and upgrades, together with weather and temperature conditions, production rose by 20 percent.

Most of the volumes produced at the Sakhalin LNG plant land in Japan, followed by South Korea, Taiwan, and China.

Most Popular

LNG carrier arrives to load first LNG Canada cargo

The 174,000-cbm GasLog Glasgow has arrived at the LNG Canada jetty in Kitimat to load the first LNG cargo produced at the Shell-led terminal, an LNG Canada spokesperson told LNG Prime on Saturday.

Knutsen, Shell name ninth LNG newbuild

Norwegian shipowner Knutsen and UK-based energy giant Shell have named the ninth and final LNG carrier in a series of 174,000-cbm vessels.

BP seals LNG SPA with Italy’s A2A

UK-based energy giant BP has signed a long-term liquefied natural gas (LNG) supply deal with Italian electricity and gas distributor A2A.

More News Like This

KARMOL takes delivery of fourth FSRU

KARMOL, a joint venture of Turkiye's Karpowership and Japan's MOL, has taken delivery of its fourth floating storage and regasification unit in Singapore.

KARMOL’s FSRU named in Singapore

KARMOL, a joint venture of Turkiye's Karpowership and Japan's MOL, has named its latest floating storage and regasification unit at Seatrium's yard in Singapore.

MOL’s LNG carrier to feature SOFC tech

Japan's MOL and South Korea's Samsung Heavy Industries have received approval from classification society LR for the design of a 174,000-cbm LNG carrier integrating solid oxide fuel fell (SOFC) technology.

MOL says it will consider both Chinese and Korean yards for new LNG carrier orders

Japan's MOL said it will consider both Chinese and South Korean yards for new orders of liquefied natural gas carriers. This follows recent media reports suggesting that MOL intends to suspend new LNG carrier orders to Chinese shipyards.