Reduce the environmental load by LNG-to-Powership business
Mitsui O.S.K. Lines, Ltd.
Mitsui O.S.K. Lines, Ltd. (MOL) and Karadeniz Holding A.S. announced that MOL and Karpower International B.V., a subsidiary of Karadeniz, have agreed to jointly carry out the first LNG-to-Powership project under the co-brand "KARMOL" in Mozambique.
The Business will generate power through the Powership® by receiving regasified LNG through a floating LNG storage and regasification unit to provide reliable electricity to shore grids and facilities where base load electricity and/or replacements of fuel mode are required to meet the environmental concerns.
Combining of MOL’s track record and expertise of LNG Carrier and FSRU business and Karpowership’s track record and expertise of Powership® business will assume good business synergy and enable to provide LNG -to Power solution expansively.
The Powership is currently operating with heavy fuel oil in Nacala, but it will be switched to operation with LNG after the arrival of the FSRU which is being converted from an existing LNG Carrier. By switching to LNG power generation, the environmental load can be reduced compared to conventional heavy oil power generation.
Mitsui O.S.K. Lines, Ltd. ("MOL", head office: Minato-ku, Tokyo; President & CEO: Junichiro Ikeda) and Karadeniz Holding A.S. ("Karadeniz"; head office: Istanbul, Turkey; Chairman: Osman Murat Karadeniz) announced that MOL and Karpower International B.V. ("Karpowership"; head office: the Netherlands; CEO: Orhan Remzi Karadeniz), a subsidiary of Karadeniz, have agreed to jointly carry out the first LNG-to-Powership project under the co-brand "KARMOL" in Mozambique.
This LNG-to-Powership project consists of the collaborative operations of the FSRU (*1) to deliver regasified LNG and the Powership® (*2) to receive regasified LNG in order to produce electricity, which is subsequently provided to the Mozambican National Power Utility, through the electricity connection and transmission facility. The project is a revolutionary solution that provides acceptance of LNG, regasification by FSRU, and power supply by Powership®, and
will be the first LNG -to Power solution in Eastern and Southern Africa.
The Powership® is currently operating with heavy fuel oil in Nacala, but it will be switched to operation with LNG after the arrival of the FSRU which is being converted from an existing LNG Carrier. By switching to LNG power generation, the environmental load can be reduced compared to conventional heavy oil power generation.
In the past years Mozambique has seen rapid economic growth, which in order to sustain requires the increased supply of stable and affordable supply of electricity. The project will create a stable and reliable supply of electricity for the people of Mozambique and, provide critical infrastructure for the use of LNG within Mozambican territory.
By taking advantage of its nature as a ship, KARMOL's LNG-to-Powership solution is possible to meet a various electricity demand flexibly and quickly, and it can minimize initial investment as well. Therefore, it can be used in island countries and developing countries where it was difficult to construct an onshore power plant due to geographical restrictions, etc. By combining the Powership® and FSRU, it is possible to generate electricity using LNG, which has a smaller environmental load than heavy oil, and contributes to reducing the environmental load.
MOL and Karpowership will continue to jointly develop LNG-to-Powership projects and provide cost competitive, less environmental load, and robust solutions in all over the world.
(*1) Abbreviation for Floating Storage and Regasification Unit. A floating facility for storing and regasifying LNG, which is then pressurized and piped ashore/to the facility.
(*2) In 2007, Karpowership began the production of the first floating power plant "Powership“ fleet with the vision of illuminating the world and becoming the pioneers of the global energy market. Karadeniz Holding, which manages the Powership® fleet under its international brand Karpowership, is the only owner, operator and builder of the first Powership™ (floating power plant) fleet in the world and plays an active role in medium to long-term investments; with more than 2500 employees globally. Currently, Karpowership owns and operates 20 Powerships in countries such as Indonesia, Ghana, Mozambique, Gambia, Sierra Leone, and Lebanon.
Karadeniz Holdings A.S.
Karpower International B.V.
Press releases from Mitsui O.S.K. Lines, Ltd.
Karpower International B.V. homepage
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