Japan's MOL Agrees Deal to Provide FSRU to Uruguay's Gas Sayago

Japan's Mitsui O.S.K. Lines, Ltd.'s (MOL) reported Tuesday that its wholly owned unit Lakler S.A. has agreed to conclude a charter contract, with an eye toward finalizing a deal in June, with Gas Sayago -- a joint venture between Uruguay's state oil company ANCAP and state power company UTE -- for a floating storage and regasification unit (FSRU) project in Montevideo, Uruguay.

The preliminary deal was signed in a ceremony held in Uruguay's capital Montevideo May 2 and Lakler hopes to conclude negotiation of the details swiftly to allow the project to get underway.

The FSRU to be deployed for this project is currently under construction at Daewoo Shipbuilding & Marine Engineering Co., Ltd.'s yard in South Korea. The facility will be equipped with the largest liquefied natural gas (LNG) storage tank (9.286 million cubic feet or 263,000 cubic meters) of any FSRU in the world. Upon completion, the FSRU will be deployed to Uruguay to commence LNG receiving and regasifying operations.



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