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May 16, 2013

MOL Reaches LNG Transport Agreement for One LNG Carrier with Osaka Gas and Kyushu Electric Power
- Contract for construction of a carrier for Australia Ichthys LNG project imminent -

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced the conclusion of a contract for a long-term liquefied natural gas (LNG) transport with Osaka Gas Co., Ltd. (President: Hiroshi Ozaki) and Kyushu Electric Power Co., Ltd.(President: Michiaki Uriu). As MOL has concluded the contract with Osaka Gas and Kyushu Electric Power, it will soon sign a contract with Mitsubishi Heavy Industries Co., Ltd. (MHI) for construction of a 155,000cm3 LNG carrier.

The vessel will transport LNG that Osaka Gas and Kyushu Electric Power purchase through the Australia Ichthys LNG project. This contract marks the first time that an LNG carrier wholly owned by a Japanese shipping company will serve on joint transport for electric power and gas companies in Japan.

LNG has drawn attention as an environment-friendly energy resource. New large-scale projects are being planned in North America and East Africa, setting the stage for increased demand for LNG transport. MOL strives to further expand its LNG transport services by using experience, know-how, and networks accumulated as the world's largest LNG carrier owner and management company by meeting a broad range of customer needs.

Outline of Contract

(1) Cargo owners : Osaka Gas Co., Ltd., Kyushu Electric Power Co., Ltd.
(2) Transporter : Mitsui O.S.K. Lines, Ltd.
(3) Contract term : 12 years from 2020
(4) Main routes : From Ichthys LNG liquefaction terminal to cargo owner receiving terminals
(5) Transport volume : 800,000 tons/year for Osaka Gas
300,000 tons/year for Kyushu Electric Power

Outline of newbuilding LNG carrier

The new LNG carrier is the same type as two newbuilding vessels (constructed by MHI)* slated for launching in 2014 and 2015 to transport LNG to Osaka Gas. It features a continuous tank cover that houses the four spherical LNG storage tanks, reducing weight while maintaining the overall vessel strength. It also adopts a new steam turbine engine that captures and uses reheating steam, contributing to higher fuel efficiency.

*Officially announced the press release "MOL, Osaka Gas Subsidiary Sign Construction Deal for 2 LNG Carriers; LNG Transport Agreement with Osaka Gas" on October 28, 2011

(1) Length : About 288.0m
(2) Breadth : 48.94m
(3) Draft : 11.55m
(4) LNG tank : Stretched Moss-type independent spherical type
(5) Gross tonnage : 138,000 tons
(6) Deadweight capacity : 75,000 tons
(7) Maine engine : Reheat type steam turbine
(8) Speed : 19.5 knots
(9) Shipyard : Mitsubishi Heavy Industries, Ltd.
(10) Shipowner : A subsidiary wholly owned by Mitsui O.S.K. Lines, Ltd.
(11) Ship management company : Mitsui O.S.K. Lines, Ltd.
(12) Name : To be announced

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