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
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
