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May 26, 2014

MOL-owned LNG Carrier departs for Japan with first LNG cargo from PNG LNG Project

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced that the LNG carrier Spirit of Hela, which is jointly owned by MOL and Itochu Corporation (President & Chief Executive Officer: Masahiro Okafuji), has left Papua New Guinea carrying the first LNG cargo from the ExxonMobil-led PNG LNG Project.

The PNG LNG Project is Papua New Guinea's first ever LNG project, and will provide long-term supply of gas to customers in Japan and other countries.

The vessel loaded LNG at the Project's Marine Terminal, which is located near Port Moresby, the capital of Papua New Guinea. The first cargo will be delivered to Tokyo Electric Power Company.

On May 14, Papua New Guinea's Prime Minister Peter O'Neill visited the vessel for a tour.

Taking advantage of the experience, know-how, and networks built up over the years as one of the world's largest LNG carrier owners and operators, MOL is committed to safe and stable transport of LNG, which has increasingly gained considerable prominence as a viable green fuel in recent years.

[ Specifications of Spirit of Hela ]

Length : 298.43 meters
Breath : 46.00 meters
Cargo tank capacity : 175,103.173 cubic meters (98.7%)
Main engine : Dual Fuel Diesel Electric
Flag of registry : Nassau, BAHAMAS

[ Outline of PNG LNG Project ]

Project participants ExxonMobil: 33.2%(operator)
Oil Search Limited: 29.0%
NPCP (Papua New Guinea government agency): 16.6%
Santos Limited: 13.5%
JX Nippon Oil & Gas Exploration Corporation : 4.7%
MRDC (Papua New Guinea government agency): 2.8%
Petromin PNG Holdings: 0.2%
Annual LNG production capacity 6.9 million tons
LNG loading port Near Port Moresby, Papua New Guinea

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