Europétrole, le portail de l'industrie du pétrole
 accueil | actualité française | actualité internationale | recherche | interviews | focus | actualité par entreprise | actualité pétrole/gaz de schiste 
Partager :

  • Mitsui to Participate in Floating Storage and Regasification Unit (FSRU) Project in Pakistan
    édité le 14/11/2017 - Plus de news de "Mitsui" - Voir la fiche entreprise de "Mitsui"

Mitsui to Participate in Floating Storage and Regasification Unit (FSRU) Project in Pakistan
Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) has entered into an agreement with BW Group ("BW") to form a joint venture ("JV"), and to acquire a 49% stake in the JV to jointly own the Floating Storage and Regasification Unit ("FSRU") BW Integrity. The deal is expected to close as soon as the payment for the acquisition is completed. This deal is the first FSRU project for Mitsui, and the first project for a Japanese company to participate in the LNG receiving infrastructure business in Pakistan.

The JV will lease the FSRU to PGP Consortium Ltd. ("PGPC") based on a long-term FSRU lease agreement (The "Project"), and PGPC will provide LNG regasification services to Pakistan LNG Terminals Ltd. ("PLTL"), a state-owned company. Pakistan began importing LNG in 2015 to cater to growing domestic demand for natural gas, and declining production of indigenous gas. The demand for imported LNG in Pakistan is expected to grow steadily and reach 20 million tons per annum by 2022. As Pakistan's second LNG receiving facility in the country, this project delivers a key energy infrastructure project of high national importance.

BW Group is a major player in the maritime oil and gas industry, with a well-diversified fleet of over 150 vessels which includes LNG and LPG carriers, floating gas infrastructure, product tankers, FPSOs, dry bulkers, chemical tankers, and possesses a long-standing and best-in-class vessel management capabilities. This is BW's second FSRU project, with the first being a sister vessel, BW Singapore, which is currently based in Egypt on a five-year charter.

Mitsui is traditionally involved in various spheres of gas-value-chain business such as exploration, liquefaction of LNG, LNG transportation, LNG receiving terminals, on-shore gas distribution, gas-fired power plants, gas-chemical business, etc., in different parts of the world. Gas-value-chain business is identified as a core business for Mitsui in the new Medium-Term Management Plan "Driving Value Creation" that was announced last May. Mitsui aims to increase its presence in the growing FSRU business which has evolved to be the optimum solution in terms of considerations such as project execution timeline and cost competitiveness for newly emerging LNG markets, by leveraging its wide range of experience and expertise in various business in the gas-value-chain. Also, by entering the FSRU business, Mitsui aims to further expand its presence in the gas-value chain business to respond to the growing demand for gas related infrastructure in the newly emerging LNG markets in many parts of the world.

Project Details:

- Joint Venture: BW FSRU II Pte. Ltd.
- Shareholders: BW 51%, Mitsui 49%
- FSRU Location: Pakistan, Karachi Port Muhammad Bin Qasim
- Name of FSRU: BW Integrity
- Project Cost: Approx. USD 310 million
- LNG receiving capacity: Approx. 5.6 MMTPA of LNG
- Commencement of Operation: From end of November to first half of December, 2017
- Project Period: 15 years

About Mitsui

Mitsui & Co.'s five principal functions are marketing, financing, logistics, risk management, and IT and process development capabilities. We combine these functions to create and optimize value chains in a wide range of business fields. Maximizing our value-added content, we strive to meet the diverse needs of our customers around the world.

About BW

BW Group is one of the world’s leading maritime groups in the tanker, gas and offshore segments. We provide reliable energy transportation and infrastructure services across the energy value chain. We own and operate a fleet of quality vessels which are managed by competent and experienced staff. Our principal business areas are:
- Liquefied natural gas (LNG) carriers
- Liquefied petroleum gas (LPG) carriers
- Product tankers
- Offshore floating production vessels (FPSO)
- Floating gas infrastructure

Origine : Communiqué Mitsui

Voir la fiche entreprise de "Mitsui"

Les dernières news de "Mitsui"

Rechercher une news

française internationale

Les dernières news internationales

>> Toute l'actualité internationale     >> RSS

Europétrole © 2003 - 2024