Largest FSRU Goes to Hong Kong’s First LNG Import Terminal

The Dutch independent tank storage company Royal Vopak and Mitsui O.S.K lines of Japan are partnering up to operate an FSRU in Hong Kong. To this end, they have a long-term contract with the Hong Kong liquid natural gas terminal to provide maintenance, jetty operations, and port services. This partnership between MOL and Vopak is a joint venture company, with Vopak owning 49.99% of it. MOL intends to leverage Vopak's expertise in LNG vessels and FSRU's.

The offshore jetty platform is currently under construction and will be complete by mid-2022. This terminal provides natural gas feedstock to the dedicated power plants owned by the customer. The terminal is primarily developed to improve environmental conditions by increasing reliance on LNG to produce power, which is a goal of the Hong Kong special administrative Region government.

The operations will begin with the largest Floating and regasification unit in the world, the MT MOL FSRU Challenger. Before its positioning in Hong Kong, she will be renamed Bauhinia Spirit. The ship boasts a storage capacity of 263,000 cubic meters of LNG. It also has LNG reshipment and gas transfer capabilities, with a daily regasification capacity of 800 million standard cubic feet. Even though this MOL intends to enhance the regasification capacity further, to meet the demands of the two power plants, it is meant to supply.

Vopak and MOL have expressed interest in exploring bunkering opportunities of LNG further in the supply chain of Hong Kong. LNG is a cleaner alternative to conventional fuel and Hong Kong is one of the major bunkering ports in Asia. MOL plans to operate almost 90 LNG fuel ships by 2030 in line with its vision of reaching net-zero emissions by 2050.

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