GAZ-SYSTEM has selected Mitsui O.S.K. Lines (MOL) as the preferred shipowner for time chartering a floating storage and regasification unit (FSRU) for its planned liquefied natural gas (LNG) import terminal in Poland.

The Polish gas transmission system operator is the developer and operator of the LNG regasification terminal to be located in the Gulf of Gdańsk. The FSRU terminal could be engineered to offer regasification capacity equivalent to approximately 6.1 billion cubic meters of gaseous fuel annually.

Based in Japan, Mitsui O.S.K. Lines has a history spanning 140 years in the global shipping sector. It operates one of the largest merchant fleets worldwide, comprising nearly 800 vessels.

Mitsui O.S.K. Lines’s LNG fleet is said to be the world’s largest, with close to 120 vessels, including seven FSRU units.

The shipowner was selected through a tender process. One of the stages involved finalising term sheet agreements in November 2023 with two shipowners offering the most favourable terms for the delivery and operation of the FSRU, said GAZ-SYSTEM.

GAZ-SYSTEM management board vice president Andrzej Kensbok said: “The selection of the LNG Floating Storage and Regasification Unit supplier is an important milestone in the implementation of the FSRU programme which the Company has pursued for many months now.

“In the near future, we will focus on developing the detailed terms of the so-called Time Charter Party. Further, we need to obtain all necessary corporate approvals from the Company’s management bodies to sign the agreement with the shipowner.”

The project represents the first of its kind FSRU in Poland, holding significant strategic importance in bolstering the nation’s energy security.

The FSRU is anticipated to dock at a mooring platform roughly 3km from the shore, situated within the Port of Gdańsk area between the mouths of the Vistula River branches, Śmiała and Martwa.

Additionally, both offshore and onshore infrastructure will be developed as part of the project. The entire FSRU project is scheduled for commissioning in 2027/2028.

Mitsui O.S.K. Lines senior managing executive officer in charge of Europe and Africa region Toshinobu Shinoda said: “This project also aligns with MOL’s Group Vision of realising a sustainable society through the development of social infrastructure businesses and the provision of lower emission energy.

“We are confident that the vast operational and technical experience we have garnered through our 140 years of history in the industry, along with our financial capability, will enhance the project and ensure a seamless, safe and efficient service is provided to Gaz System.”