KARMOL LNGT Powership Africa
Karpower International and Mitsui O.S.K. Lines have reached a deal with Japan Bank for International Cooperation (JBIC) and MUFG Bank, Ltd. to finance a floating storage and regasification unit (FSRU) in Senegal.
Jan 18th, 2023
KARMOL's first Floating Storage Regasification Unit (FSRU) was delivered on 15th March at Sembcorp Marine in Singapore and will begin sea trials off Singapore today ahead of its deployment to Senegal in the coming weeks.
Mar 16th, 2021
KARMOL, a collaboration between MOL and Karpowership, initiated a project in Mozambique involving the LNG-to-Powership business. This project was first announced on March 29, 2019. It includes the conversion of an existing LNG Carrier into a Floating Storage Regasification Unit (FSRU), which delivers regasified LNG to a Powership®. The Powership, initially operating on heavy fuel oil in Nacala, transitioned to LNG after FSRU is delivered. The electricity generated provided to Electricidade de Moçambique (EDM), the national power utility of Mozambique. This initiative provided a support Mozambique's strategy for industrial development and energy access by increasing electricity supply through LNG, offering a critical infrastructure solution for the country. The project is notable for being the first LNG-to-Power and FSRU project in Eastern and Southern Africa, with a power generation capacity of 120MW.
The FSRU, KARMOL LNGT Powership Africa, arrived in Senegalese waters on 31st of May 2021 and positioned at its mooring location to commence the commissioning process.
The vessel connected to a Powership, a floating power plant, owned by Karpowership, through gas pipelines. The Karadeniz Powership Ayşegül Sultan, has a capacity of 235MW and has been in operation since October 2019, supplying 15% of Senegal’s electricity with 220MW of power to Senegal’s grid.
Karadeniz Powership | Senegal
Drawing upon its experience accumulated in the field of energy transport with the world's largest fleet of LNG carriers, MOL is developing its business not only in transport, but also moving into the LNG infrastructure business, encompassing in gas liquefaction, storage, regasification, and power generation. FSRU is MOL's flagship LNG infrastructure business. Being introduced around the world as a means of importing LNG, a transition energy for a world moving toward decarbonization at affordable cost and short lead time.
MOL's FSRUs add value to LNG importers by offering solutions that exceed expectations for the demands and conditions that vary from project to project. In Hong Kong, MOL has launched the world's largest FSRU to support the Hong Kong government's goal to achieve decarbonization and improve air quality, and in Indonesia, MOL's FSRU supplies gas to a large onshore gas-fired power plant, helping to meet growing electrical demand in Indonesia. MOL has been promoting the wider adoption of LNG around the world.
Furthermore, starting in 2019, based on the experience and track record MOL has accumulated with LNG carriers and FSRUs, MOL began developing an LNG-to-Powership project, which combines an FSRU and a Powership, in collaboration with Karpowership, a Turkish Powership operator.
Most recently, MOL invested in a floating liquefied natural gas (FLNG) project. MOL is meeting the challenge of expanding the LNG value chain in these diverse business fields.