LNG carrier Papua
Demand for liquefied natural gas (LNG) is growing all over the world as an environment-friendly clean energy. MOL first participated in an LNG transport project in 1983. Ten years later, as a representative of a Japanese consortium, we played a key role in the conclusion of the largest LNG transport contract in the 20th Century, the Qatar Project, moving 6 million tons of LNG annually from the Middle East to Japan. In 2003, we signed a comprehensive service support contract with the government of the Sultanate of Oman that aimed to develop the nation's ocean shipping industry. We are contributing to the growth of the industry, and continually accumulating know-how through operation and management of six co-owned LNG carriers.
In 2010, MOL concluded a basic agreement with ExxonMobil Corporation for construction and chartering of four LNG carriers which will serve the trade between Papua New Guinea/Australia and China. This agreement set the stage for MOL to become the first non-Chinese shipping company involved in China's LNG market. In 2013, MOL signed a contract to build six LNG carriers through a joint venture with China Shipping and Sinopec, expanding its business in China.
In 2014, MOL also announced plans to participate in the Yamal LNG project in Russia, using Arctic Ocean routes, and entered the ethane transport business, forming a strategic tie-up with Reliance Industries Limited of India to operate the world's first large-scale liquefied ethane carrier. We are always in the vanguard of new developments in energy transport, and our ongoing fleet development and uncompromising approach to safety help us maintain our global leadership in the ownership, management, and operation of LNG carriers.
MOL established LNG carrier management companies, and currently manages vessels through six companies in Tokyo, London, Hong Kong, Jakarta, Muscat (Oman), and Arzew (Algeria). We maintain safe operation with advanced transport technologies and highly skilled personnel. We also introduced our unique Safety Management System, which covers all activities from ship management to practical operation, including onshore procedures such as loading and discharging. Our crew training centers focus on human resource development and training with programs that meet seafarer competency standards advocated by the Society of International Gas Tanker & Terminal Operators (SIGTTO). MOL is committed to providing stable, safe LNG transport at a level accredited by international standards.