Mitsui, BW in FSRU JV

Mitsui, BW in FSRU JV

Japan’s Mitsui will form a joint venture with BW Group to jointly own the Floating Storage and Regasification Unit (“FSRU”) BW Integrity, set to operate in Pakistani waters.

According to Mitsui, the deal is expected to close as soon as the payment for the 49% stake 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, Mitsui said,

The JV will lease the FSRU to PGP Consortium Ltd. (“PGPC”) based on a long-term FSRU lease agreement, 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.

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.

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, Mitsui said.

Share this article

Follow Offshore Energy Today

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

OTC Asia 2018

The biennial OTC Asia is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge…

read more >

THE 5TH OIL & GAS VIETNAM 2017

The 5th edition of Oil & Gas Vietnam (OGAV) exhibition 2017 is the only specialized event in Vietnam that brings together an international…

read more >

FPSO Europe Congress 2018

The FPSO Europe Congress 2018 builds on these themes, lending a particular focus to FPSO Value Preservation and Operational Excellence…

read more >

Arabia 2018 Conference and Exhibition

Offshore Arabia is a focused prestigious meeting place of the Offshore Industry, and it’s diverse spectrum from the Oil & Gas…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you’ll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you’ll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you’ll reach countless professionals in the sector. For more information, click below...

apply