MOL Signs a Project Finance Agreement for FSRU Project in Singapore
Japan, Dec. 22 -- Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced the signing of a project finance agreement with a banking syndicate-including the Japan Bank for International Cooperation (JBIC), Mitsubishi UFJ Financial Group, Inc. (MUFG), DBS Bank Ltd. (DBS), Oversea-Chinese Banking Corporation Limited (OCBC), and Standard Chartered Bank (Singapore) Ltd. (SCB)-for a newbuild floating storage and regasification unit FSRU, to be operated by Singapore LNG Corporation Pte Ltd (SLNG) as Singapore's Second LNG Terminal.This FSRU project marks the first deployment of an FSRU in Singapore., where the nation relies on imported natural gas for approximately 95% of its domestic power generation.This financing was...
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