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Montevideo, May 22nd 2019 - 11:23 UTC

Japan's Mitsui Lines takes charge of re-gasifying unit project in Uruguay

Wednesday, October 7th 2015 - 02:11 UTC
Full article 7 comments
In October 2013, MOL signed a 20-year charter contract for an FSRU in the port of Montevideo, with GNLS, which was entrusted with the construction In October 2013, MOL signed a 20-year charter contract for an FSRU in the port of Montevideo, with GNLS, which was entrusted with the construction
The FSRU is under construction at Daewoo in South Korea and will be equipped with the largest LNG storage tank (263,000m3)of any FSRU in the world The FSRU is under construction at Daewoo in South Korea and will be equipped with the largest LNG storage tank (263,000m3)of any FSRU in the world

Japan's Mitsui O.S.K. Lines, Ltd. announced on Wednesday that the company has reached a basic agreement with Gas Sayago, a joint venture between Uruguay’s state oil company ANCAP and state power company UTE, to continue the floating storage and re-gasification unit (FSRU) project led by Gas Sayago and being built in Montevideo.

 The government of Uruguay recently agreed to drop its contract with GNLS S.A., a 50-50 joint venture between ENGIE of France and Marubeni Corporation, and announced plans to continue the project by using MOL’s FSRU.

MOL also reached a basic agreement with Gas Sayago to go ahead with the project under the new project structure.

In October 2013, MOL signed a 20-year charter contract for an FSRU in the port of Montevideo, Uruguay, with GNLS, which was entrusted with the construction, ownership, and operation of the terminal project. This is the first FSRU project in which MOL will solely build, own, and operate the facility.

The FSRU that will serve the project is under construction at Daewoo Shipbuilding & Marine Engineering Co., Ltd., in South Korea. It will be equipped with the largest LNG storage tank (263,000m3)of any FSRU in the world, and is expected to arrive in Uruguay and be ready for service inmid-2017.

FSRUs receive liquefied natural gas from LNG carriers, re-gasify it, and transmit it under high pressure to pipelines on land. The technology reached the practical application stage in 2005, and projects are now underway all over the world as an effective solution to developing LNG terminals in less time and at lower expense than conventional land-based terminals.

MOL anticipates continued growth in the FSRU field, and is aggressively seeking new opportunities, drawing upon more than 30 years of experience and a strong track record in loading/discharging, vessel operation, and maintenance.

Top Comments

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  • ynsere

    Unfortunately ANCAP, Uruguay's state petroleum entity, is under parliamentary investigation for mismanagement with criminal charges filed, and UTE, the State Power Concern, may not be far behind.

    Oct 07th, 2015 - 03:43 am 0
  • Frank

    'state' 'mismanagement' and 'criminal ' just sort of go together in Latam don't they?

    They should be able to see this FSRU from BA while they shiver in the dark and yet another BP gas buggy lies offshore from Bahia Blanca waiting for someone to offer real $$$ to pay for the cargo...

    Oct 07th, 2015 - 09:23 am 0
  • ChrisR

    @ 1 ynsere

    And of course, the main crook at ANCAP is no other than the present Veep who will ascend to the presidency should Vasquez croak in office.

    Are there no better people willing to take office in UYU other than The Broad Fraud crooks, it seems not?

    Oct 07th, 2015 - 05:21 pm 0
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