Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Jotaro Tamura, Headquarters: Minato-ku, Tokyo) and Deutsche ReGas (CEO: Ingo Wagner, Headquarters: Germany, Note 1) today announced that they have entered into a long-term Time Charter Contract with Deutsche ReGas for the deployment of one FSRU (Note 2) at the Energie-Terminal "Deutsche Ostsee" in Mukran (Note 3), Germany. Under this long-term arrangement, the LNG carrier will be converted at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd.(“HZ”) in China and Deutsche ReGas will charter the FSRU from MOL starting in 2028. While MOL has previously undertaken FSRU conversion projects in collaboration with partner companies for their specific use, the Project marks FSRU conversion project on MOL's sole initiative to be developed for LNG deliveries to major gas networks. The commemorative ceremony was held in Tokyo on October 29th, with relevant parties in attendance, including Deutsche ReGas CEO Ingo Wagner and MOL President & CEO Jotaro Tamura.
Leveraging the expertise and know-how cultivated through our extensive LNG transportation track record with the world's largest LNG carrier fleet, MOL has been expanding vertically into the downstream segment of the LNG value chain, including LNG receiving and regasification. Through the Project, MOL will provide a reliable and flexible LNG import solution for the German and European gas markets, thereby promoting the diversification of gas supply sources and the expansion of LNG import capacity, and contributing to a stable energy supply across Europe. (....)