The Northern Sea Route still requires specialist vessels
MOL mulls LNG transshipment stakes
The Japanese shipping company is looking to acquire stakes in the FSUs serving Russia’s Arctic LNG 2 project
Japanese shipping company Mitsui OSK Lines (MOL) has signed a letter of intent with Russian state-owned transport leasing company GTLK for the acquisition of 49pc of the floating storage units (FSUs) serving the Arctic LNG 2 liquefaction scheme. The Kamchatka and Murmansk FSUs will be used to facilitate transshipment of Arctic LNG cargoes from specialist ice-class carriers—which are limited in availability—on to conventional LNG-carrying vessels for delivery to buyers. The FSUs are currently 100pc-owned by GTLK, while MOL has previously chartered three of its ice-breaking LNG carriers to serve the project. The transshipment terminals—each with 21mn t/yr of capacity—will be operated by Arcti
Also in this section
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
8 January 2026
The next five years will be critical for the North Sea, and it will be policy not geology that will decide the basin’s future
8 January 2026
The region’s access to versatile feedstock, combined with policy support, is setting it up to meet growing demand both at home and abroad
7 January 2026
No longer can the energy source be considered a sidekick to oil in the Middle East and neither should it step aside for less convincing alternatives
