MOL Signs Charter Contract for A Newbuilding Ice-Breaking Tanker to Serve Russia’s Arctic LNG 2 Project – Participating in Japan’s 1st Condensate Transport Project Using Ice-breaking Tanker –

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that on January 26, it agreed to participate in cargo transport for the Arctic LNG 2 Project on Russia’s Gydan Peninsula, and signed, through an MOL subsidiary, a charter contract for a newbuilding ice-breaking tanker with the project company, whose largest shareholder is Russia-based PAO NOVATEK. The vessel will be constructed at Guangzhou Shipyard International Company Limited. (Headquarters: China) which is a subsidiary of China State Shipbuilding Corporation Limited (CSSC), and is slated for delivery in 2024. This contract follows the October 2020 (Note 2) signing of charter contracts for three ice-breaking LNG vessels to serve for the same project.

The vessel will transport condensate from the LNG/condensate plant inside the Arctic Circle on the Gydan Peninsula, mainly to Europe (westbound) via the Northern Sea Route. (Fig. 1)

MOL has operated three ice-breaking LNG carriers on the Northern Sea Route for the Yamal LNG Project (Note 3) since March 2018. In addition, three ice-breaking LNG carriers for the Arctic LNG 2 Project are scheduled to go into service in 2023.

MOL has earned high regard for its track record it has built on the Northern Sea Route, its technological capabilities and expertise, and accumulated resources, all of which contributed to the conclusion of the contract. It will further enhance its experience and know-how on the Northern Sea Route through its involvement in transporting condensate as well as LNG, as it works to expand the maritime transport of this next-generation, environment-friendly energy resources from the Russian Arctic. It will also ensure stable access to energy produced in the Russian Arctic to supply Japan steadily and promote worldwide decarbonization efforts.

Addressing environmental issues in line with the MOL Group Environmental Vision 2.1(Note 4), the group implements comprehensive, ongoing efforts to achieve sustainable net zero GHG emission and contribute to the realization of a low- and decarbonized society.

(Note 1) Arctic LNG 2 Project
This large-scale LNG project in Gydan Peninsula by Russian company LLC ARCTIC LNG 2 is funded by NOVATEK 60%, Total 10%, China National Petroleum Corporation (CNPC) 10%, China National Offshore Oil Corporation (CNOOC)10%, and Japan Arctic LNG B.V. 10% (a Dutch company funded by Mitsui & Co., Ltd. (25%) and Japan Oil, Gas and Metals National Corporation (JOGMEC) (75%)). The project is slated to start in 2023.

(Note 2) Please refer to the following press release.
November 2, 2020: MOL signs Charter Contract for Three Ice-Breaking LNG Carriers for Arctic LNG 2 Project in Russia

(Note 3) Please refer to the following press releases for MOL’s engagement for Yamal LNG Project.
July 9, 2014: MOL signs Ship Building Contracts with DSME for ice class carriers
March 29, 2018: Ice-Breaking LNG Carrier “Vladimir Rusanov” for Yamal LNG Project Started the First Loading Operation in the Yamal LNG Plant at Sabetta Port -Operational commencement with MOL’s 1st Vessel for World’s First Ice-Breaking LNG Carrier Project-
July 27, 2020: Ice-Breaking LNG Carrier makes first call at Japan – Northern Sea Route Voyage from Yamal, Russia to Japan –

(Note 4) “MOL Group Environmental Vision 2.1”

This press release was originally taken from the website of https://www.mol.co.jp/en/pr/2022/22021.html