MOL, JBIC & NOVATEK Sign Cooperation Agreement For LNG Transshipment Projects

MOL, JBIC & NOVATEK Sign Cooperation Agreement For LNG Transshipment Projects

MOL, JBIC & NOVATEK Sign Cooperation Agreement For LNG Transshipment Projects

Cooperation Agreement for LNG Transshipment Projects in Kamchatka and Murmansk that is the east and west of the Russian Federation was signed by Mitsui O.S.K. Lines, Ltd. (MOL), Japan Bank for International Cooperation (JBIC) and PAO NOVATEK (NOVATEK)

Floating Storage Units (FSUs) will be constructed under this project to transform the ice-breaking LNG ships to conventional LNG Ships. The FSUs that will be used to transship the LNG cargoes that are produced by NOVATEKCs Yamal LNG Project and Arctic LNG 2 Project, will be located in Kamchatka and Murmansk.

The cost of LNG cargoes that come through the Northern Sea Route can be minimized by using the Transshipment hubs in Kamchatka and Murmansk. This will ensure the timely and stable delivery of LNG cargoes to LNG consumer States.

Reference: MOL

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