World’s Largest Floating Power Plant Company And Largest FSRU Operator In Asia Enter Collaboration
Mitsui O.S.K. Lines, Ltd. (“MOL”) and Karpower International B.V. (“Karpowership”) announced that the parties have agreed to collaborate in the LNG-to-Powership business (“Business”) to become the world’s most reliable and preferable LNG to Powership solution provider, under the brand name of “KARMOL”. The parties aim to co-invest in the related assets and joint market its solution in selected markets around the world.
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. Significance of this KARMOL collaboration are;
- Very competitive initial Capex construction cost and fast track solution to provide LNG to Power to create immediate savings for customers and to meet the power demand
- Replacement of higher emission fuels by LNG to significantly reduce greenhouse gas emissions
- Business synergy is assumed by combining both companies track records and excellence in their operations. MOL’s track record and expertise of LNG Carrier and FSRU business and Karpowership’s track record and expertise of Powership® business.
Hereafter, MOL and Karpowership will jointly promote the LNG-to-Powership solution to
provide this cost competitive and robust solution in selected markets. The parties will aim to materialize several projects in the coming years.
Prior to this press release, parties have started to convert an existing LNG carrier into a floating storage and regasification unit (FSRU) to provide regasified LNG to a Powership.
Reference: mol.co.jp
Marine Insight Academy
Online courses for the Maritime industry!
Enroll For Maritime Courses
- 100 + Free & Premium Courses
- Learn at your own speed
- Earn certificates on completing Premium Courses
- Quizes to evaluate your knowledge
- Interactive videos
Marine Insight Academy
Enroll For Maritime Courses
- 100 + Free & Premium Courses
- Learn at your own speed
- Earn certificates on completing Premium Courses
- Quizes to evaluate your knowledge
- Interactive videos
Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
Do you have info to share with us ? Suggest a correction
About Author
Marine Insight News Network is a premier source for up-to-date, comprehensive, and insightful coverage of the maritime industry. Dedicated to offering the latest news, trends, and analyses in shipping, marine technology, regulations, and global maritime affairs, Marine Insight News Network prides itself on delivering accurate, engaging, and relevant information.
About Author
Marine Insight News Network is a premier source for up-to-date, comprehensive, and insightful coverage of the maritime industry. Dedicated to offering the latest news, trends, and analyses in shipping, marine technology, regulations, and global maritime affairs, Marine Insight News Network prides itself on delivering accurate, engaging, and relevant information.
Related Articles
- U.S Navy Warship To Visit China’s Close Ally In Southeast Asia After 8 Years
- Finland Passes Historic Law Prohibiting Ship Wastewater Discharge Into The Baltic Sea
- Iran’s New Drone Ship ‘Shahid Bagheri’ Spotted In The Persian Gulf
- Indian-owned Tanker Saves 73 Migrants South Of Gavros In A Commendable Rescue Operation
Related Articles
Daily Maritime News, Straight To Your Inbox
Sign Up To Get Daily Newsletters
Join over 60k+ people who read our daily newsletters
By subscribing, you agree to our Privacy Policy and may receive occasional deal communications; you can unsubscribe anytime.
BE THE FIRST TO COMMENT