MOL changes FSRU order to LNG carrier after Uniper hydrogen move

Japan’s shipping giant MOL has amended its order to build a large FSRU after its partner Uniper decided to develop a hydrogen hub instead of an LNG import terminal in Germany’s Wilhelmshaven.

Daewoo Shipbuilding & Marine Engineering will instead build an LNG carrier for almost half of the original price, according to a stock exchange filling on Friday.

The revised deal has a price tag of about 226 billion won ($202 million), compared to 410.6 billion won ($368 million) in the original order revealed on May 21 last year, the filling said.

DSME said it would deliver the LNG carrier by October 2023.

To remind, MOL ordered the 263,000-cbm FSRU at DSME in May last year after signing a build and charter deal with Uniper for the Wilhelmshaven FSRU.

However, the order included a condition. It would only materialize upon a final investment decision on the FSRU project, DSME said in the original filling in May 2020.

DSME also said then that it would receive compensation for the costs related to the construction of the FSRU if the investment decision falls through.

Uniper revealed this week that the firm’s plans for Wilhelmshaven now only include a hydrogen hub.

This followed an announcement by Uniper in November saying it was re-evaluating plans to build its Wilhelmshaven FSRU project due to a lack of customer interest.

Most Popular

Excelerate buys GasLog LNG carrier

US FSRU player Excelerate Energy has purchased a 2007-built steam liquefied natural gas (LNG) carrier from GasLog Partners, a part of Greek LNG shipping firm GasLog, according to brokers.

Bangladesh receives boost from World Bank to buy LNG supplies

The World Bank has approved a project aimed at helping Bangladesh's state-owned company Petrobangla to secure liquefied natural gas (LNG) supplies.

Kimmeridge’s Commonwealth LNG gets FERC approval

Kimmeridge's Commonwealth LNG has received the Federal Energy Regulatory Commission’s final order upholding authorization for its planned 9.5 mtpa LNG export project near Cameron, Louisiana.

More News Like This

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.

MOL orders LNG-fueled VLCC for charter to Idemitsu Tanker

Japan's shipping giant MOL has ordered a new LNG-fueled very large crude carrier (VLCC) to sail under a long-term time charter contract with compatriot Idemitsu Tanker.