MOL signs LNG charter deal with new Russian operator

Mitsui OSK Lines (MOL) has signed a charter contract with the new Russian operator of the Sakahlin-2 liquefied natural gas (LNG) project for the LNG carrier Grand Mereya.

The Japanese shipowner said it had struck a new long-term deal with recently launched Sakhalin Energy for the 147,200 cu m vessel in which it holds a 60% interest.

The ship was delivered in 2008 to a MOL-led consortium with Kawasaki Kisen Kaisha and Primorsk Shipping as partners to transport LNG from Sakahlin-2 for Sakhalin Energy Investment Company Limited, the former operator of the project.

Russian President Vladimir Putin signed a decree in June taking over one of the world’s largest LNG projects that covers roughly 4% of the global market by creating a new entity with Gazprom as operator and Japanese trading houses Mitsui & Co and Mitsubishi Corp approved as stakeholders.

MOL said that under the new deal, the vessel would continue the same transport services, adding that the company complied with sanctions imposed by the international community and that it continued to consult with various parties, including the Japanese government and project partners.