MOL and QatarEnergy Sign Deal for Three Newbuilding LNG Carriers

Source: www.gulfoilandgas.com 11/10/2022, Location: Middle East

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President and CEO: Takeshi Hashimoto) today announced that, through a subsidiary (Note 1), it signed a long-term charter contract for three newbuilding liquefied natural gas (LNG) carriers with QatarEnergy. The vessels will be built at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. in China, and are scheduled for delivery in 2027.

MOL signed a long-term charter contract with QatarEnergy in April 2022 (Note 2) for four newbuilding LNG carriers, and the relationship between QatarEnergy and MOL will be further expanded by three LNG carriers through the latest contract.

QatarEnergy is undertaking the North Field Expansion Project to increase its LNG production capacity to 126 million tons per annum by 2027. MOL, through its further participation in LNG projects in Qatar, will contribute to stable global LNG supply and enhance the maritime transport of the next-generation, environment-friendly energy resources.

Addressing environmental issues in line with the "MOL Group Environmental Vision 2.1", the group implements comprehensive, ongoing efforts to achieve sustainable net zero GHG emission and contribute to the realization of a low- and decarbonized society.

(Note 1) MOL wholly owned subsidiary. MOL and its partner in China are discussing the share acquisition of the subsidiary by the Chinese partner.

(Note 2) For details please refer to the following press release. - April 14, 2022: MOL and QatarEnergy Sign Long-term Charter Deal for Four Newbuilding LNG Carriers

[MOL Group 5 Sustainability Issues] MOL Group will contribute to realizing a sustainable society by promoting responses to sustainability issues, which are identified as social issues that must be addressed as priorities through its business. We anticipate this initiative to contribute especially to the realization of "Safety & Value - Provide added value through safe transportation and our social infrastructure business-" and "Environment -Conservation for Marine and global environment-".


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