Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Jotaro Tamura, Headquarters: Minato-ku, Tokyo) and Deutsche ReGas (CEO: Ingo Wagner, Headquarters: Germany, Note 1) today announced that they have entered into a long-term Time Charter Contract with Deutsche ReGas for the deployment of one FSRU (Note 2) at the Energie-Terminal "Deutsche Ostsee" in Mukran (Note 3), Germany. Under this long-term arrangement, the LNG carrier will be converted at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd.("HZ") in China and Deutsche ReGas will charter the FSRU from MOL starting in 2028. While MOL has previously undertaken FSRU conversion projects in collaboration with partner companies for their specific use, the Project marks FSRU conversion project on MOL's sole initiative to be developed for LNG deliveries to major gas networks. The commemorative ceremony was held in Tokyo on October 29th, with relevant parties in attendance, including Deutsche ReGas CEO Ingo Wagner and MOL President & CEO Jotaro Tamura.
At the commemorative ceremony in Tokyo
(From left: Deutsche ReGas Marcus CCO, Deutsche ReGas Ingo CEO, MOL Tamura CEO, MOL Inomoto MEO, MOL Suryan MEO)
Leveraging the expertise and know-how cultivated through our extensive LNG transportation track record with the world's largest LNG carrier fleet, MOL has been expanding vertically into the downstream segment of the LNG value chain, including LNG receiving and regasification. Through the Project, MOL will provide a reliable and flexible LNG import solution for the German and European gas markets, thereby promoting the diversification of gas supply sources and the expansion of LNG import capacity, and contributing to a stable energy supply across Europe.
Image of LNG value chain (FSRU is positioned in the downstream segment)
Mr. Jotaro Tamura, President & CEO of MOL, commented:
"The FSRU Project represents a major strategic milestone for MOL. We are pleased to partner with Deutsche ReGas on this important infrastructure Project and to work together with HZ to deliver an FSRU solution. Through this FSRU Project, MOL will further strengthen its position as a global provider of LNG infrastructure while contributing to Germany's and Europe's import solution."
Mr Suryan Wirya-Simunovic, Managing Executive Officer, commented:
"The FSRU Project is a landmark achievement for MOL Europe and Africa Region and reflects our commitment to developing critical energy infrastructure that supports Europe's evolving energy needs. By combining MOL's global LNG expertise with Deutsche ReGas's strong market position and leading operatorship in Germany, we are creating a reliable and flexible solution that will contribute to supply security and energy resilience in the region. We look forward to working closely with all Project partners to ensure the successful delivery and long-term operation of the terminal."
Ingo Wagner, Chief Executive Officer of Deutsche ReGas, commented:
"We are excited about the future partnership with MOL as the leading player in floating LNG infrastructure. As the only LNG-Terminal in the eastern part of Germany and critical infrastructure, Deutsche ReGas has demonstrated its strategic importance for security of supply. By restoring the Terminal's fully permitted capacity, we are continuing the path which we started in 2024. This allows to strengthen long-term energy security and creates additional import flexibility benefiting consumers, industry and energy markets alike. Formidable energy companies are reliable partners for us an infrastructure provider."
In BLUE ACTION 2035 Phase 2, the MOL Group has positioned portfolio strategy as one of its core strategies, with FSRU business serving as a stable earnings-generating business in the downstream segment of the LNG value chain. Through this Project, MOL aims to contribute to the stable supply of energy in Germany and Europe while further strengthening its energy infrastructure business.
(Note 1) Deutsche ReGas is a provider of European critical energy infrastructure. In the industrial port of Mukran, Deutsche ReGas operates the Energie-Terminal "Deutsche Ostsee." This Energie-Terminal, along together with the previously completed LNG terminal in Lubmin, are the first and only privately financed floating operating liquefied natural gas terminals in Germany. In addition, Deutsche ReGas is planning the construction of hydrogen electrolyzers and solutions for hydrogen derivatives.
(Note 2) A floating facility capable of receiving, storing and regasifying liquefied natural gas (LNG) before delivering natural gas to shore through pipeline infrastructure. Compared with conventional land-based LNG terminals, FSRUs provide shorter development schedules and lower capital investment requirements while offering flexible and scalable energy infrastructure solutions.
(Note 3) Located on Germany's Baltic Sea coast, Mukran is home to the LNG import terminal Energie-Terminal "Deutsche Ostsee", built and operated by Deutsche ReGas. The terminal plays a key role in diversifying gas supply sources for Germany and Europe.
The MOL Group Sustainability Issues
MOL Group identifies "Sustainability Issues" (Materiality) as our key issues for sustainable growth with society through realization of the Group Vision.
We anticipate this initiative to contribute especially to the realization of "Environment" and "Safety."
