MOL Secures Key Role In Poland’s Energy Security

• Poland’s Gaz-System has selected Japan’s MOL as the preferred shipowner to time charter out a FSRU for the planned LNG import terminal in Gdansk.
• Gaz-System will continue negotiations of the terms of the FSRU time charter agreement with MOL.
• The company needs to secure all necessary corporate approvals from the its management bodies to sign the agreement with MOL.

In a stride towards bolstering Poland’s energy security, Mitsui O.S.K. Lines, Ltd. (MOL) has proudly emerged as the preferred shipowner for a groundbreaking project in the Gulf of Gdańsk, reads an official press release.

MOL, the sole company in Asia that owns and operates Floating Storage and Regasification Units (FSRU), has been selected by Gaz System, the Polish Gas Transmission System Operator, as the preferred shipowner for the time charter of a newbuilding FSRU.

Fortifying Poland’s energy infrastructure

This pioneering venture marks Poland’s inaugural FSRU and holds strategic importance in fortifying the nation’s energy infrastructure. The FSRU is anticipated to be moored at a platform around 3km from the shore in the Port of Gdańsk, situated between the Vistula River branches, Śmiała and Martwa. As part of the project, both offshore and onshore infrastructure will be developed, contributing to the energy landscape of the region.

Commissioning for this comprehensive project is slated for 2027/2028, showcasing a commitment to advancing Poland’s energy landscape and fostering energy security.

Andrzej Kensbok, Vice President of Gaz System Management Board, highlighted the significance of this milestone, stating, “The selection of the LNG Floating Storage and Regasification Unit supplier is an important milestone in the implementation of the FSRU Program which Gaz System has pursued for many months now.” The focus now shifts to developing detailed terms for the Time Charter Party and obtaining corporate approvals to finalize the agreement with the shipowner.

Expressing their honor at being selected for this crucial project, MOL’s Senior Managing Executive Officer, Toshinobu Shinoda, affirmed their dedication to collaborating closely with Gaz System. Shinoda emphasized that the project aligns with MOL’s Group Vision of realizing a sustainable society through the development of social infrastructure businesses and the provision of lower emission energy. With 140 years of industry experience, MOL is poised to leverage its operational and technical expertise, coupled with financial strength, to ensure the seamless, safe, and efficient execution of the project.

This collaboration not only strengthens Poland’s energy security but also contributes to the broader regional energy landscape. The MOL-Gaz System partnership is a testament to the commitment towards sustainable development and aligns with the evolving needs of the energy industry.

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Source: MOL

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