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.

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