Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) announced that on February 9, 2021, naming ceremony for a LNG carrier, ordered through a wholly owned subsidiary of MOL, was held online.
The "GAIL BHUWAN", named by Mrs. Anu Jain, spouse of Mr. Manoj Jain, Chairman & Managing Director, GAIL (India) Limited in the presence of Mr A K Tiwari, Director (Finance) and Mr E S Ranganathan, Director (Marketing), GAIL (Corporate Office : New Delhi, India), and other senior officials, present during the online naming ceremony, is the first newly built LNG Carrier for the charter contract with GAIL (*1).
GAIL has contracts for procuring LNG volumes from USA under two long term Sales and Purchase Agreements signed with US energy majors. The vessel will ship clean LNG fuel from the US Gulf Coast to India, for meeting the country's energy requirement and also to other markets globally.
GAIL is the largest Natural Gas Company in India with approx. 12,426 Km of cross-country existing trunk pipeline network and another 6,747 Km pipelines in advance stage of completion. GAIL is ranked no. 1 gas pipeline company in India and among the top gas utilities in Asia. The company's business activities range from Gas Transmission and Marketing to Processing (for fractionating LPG, Propane, Naphtha and Pentane); transmission of Liquefied Petroleum Gas (LPG); production and marketing of Petrochemicals like HDPE and LLDPE. The company has extended its presence in Liquefied Natural Gas (LNG) re-gasification, City Gas Distribution, Exploration & Production, solar and wind power generation. GAIL currently holds a LNG portfolio of about 14 MMTPA from various long and short-term contracts. The company is also committed to LNG trading globally.
MOL has been participating in Indian market since the beginning of LNG import into the country, with the distinction of having brought the first gas from Qatar. MOL is currently participating in not only transportation of LNG but also other projects in India including Floating LNG receiving terminal and Ethane transportation by the first Very Large Ethane Carrier (VLEC) in the world.
MOL will, in response to increasing demands for energy transportation, continue its effort to provide various sea transportation services with high safety standards, which the company is known for.