Offshore Business
Broadening Our Horizons with Challenging New Offshore Business Projects
Latest News
- Mar 16, 2021KARMOL's first LNG to Power FSRU "KARMOL LNGT POWERSHIP AFRICA" will begin the journey to Senegal
- May 26, 2020Mitsui O.S.K. Lines and LNG Terminal Wilhelmshaven sign a contract to build and charter an LNG terminal ship[445.0KB]
- Mar 03, 2020MOL and DSME Obtain AIP for Design of FSRU "Cryo-Powered Regas" System - Development of New Technology to Reduce Environmental Impact -
Outline of Services
MOL takes a proactive stance in the offshore business, where we anticipate further growth, by using the experience accumulated in LNG carrier and tanker operation. Floating production, storage and offloading (FPSO) units and floating storage and regasification units (FSRUs), which use a vessel moored in a specific place rather than transporting resources from one place to another, are typical of MOL's offshore business.
The company entered the FPSO business in 2010, and now participates in nine projects off the coast of Brazil, one off Ghana, and one off Mexico. Furthermore, in 2014 we entered the shuttle tanker business, which involves transporting crude oil from FPSOs to onshore oil refineries, in 2016, we made our first foray into the subsea support business, which includes installation, maintenance, repair, and decommissioning of subsea equipment, in 2017, we entered the renewable energy business through involvement in a company that operates turbine installation vessels, and in 2020, we signed a charter contract for service operation vessels (SOVs) at offshore wind farms.
MOL is also the first Asian shipping company to take delivery of an FSRU, which is currently in operation in Turkey, and is slated to enter service under a long-term contract in Hong Kong starting in 2021. In Indonesia, plans are underway for an FSRU that will be integrated with a large-scale LNG-fired thermal plant, and another project is slated to start in India in 2021. Most recently, MOL began working toward commercialization of Germany's first offshore LNG receiving terminal with Uniper S.E., a major gas and electric power company in Europe.
And in 2019, based on our accumulated experience and track record in LNG carrier and FSRU operation, MOL and Karpowership of Turkey jointly started an LNG powership business combining an FSRU and powership. Following the first powership project in Mozambique, East Africa, we have taken a proactive approach to developing our offshore business.
(Photo courtesy: MODEC, Inc.)
History
| 2006 | MOL orders two LNG vessels equipped with regasification system with Hoegh. |
|---|---|
| 2010 | MOL joins an FPSO project in Brazil |
| 2011 | MOL transfers cargo between LNG carriers in Tomakomai, the first ship-to-ship operation ever done in Japan |
| 2014 | MOL establishes Viken MOL to participate in the shuttle tanker business. |
| 2017 | MOL enters the self-elevating platform vessel business which installs wind power generation systems. MOL joins a floating LNG receiving terminal project in India. World's largest FSRU, the MOL FSRU Challenger, is launched. |
| 2018 | MOL makes a major move into the subsea support vessel business. |
| 2019 | MOL and Karpowership International B.V. agree to collaborate in the LNG-to-Powership business. |
Related URL: MOL Group
