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Wednesday, June 23, 2021

MOL, DSME Collaborate on New FSRU Tech

Maritime Activity Reports, Inc.

February 23, 2020

Japanese shipping major Mitsui O.S.K. Lines (MOL) has entered into an agreement with Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) to jointly develop a new technology to reduce environmental impact for Floating Storage and Regasification Units (FSRU).

The new technology named ‘Cryo-Powered Regas’ will enable to utilize the LNG cold energy, which used to be disposed of, as power generation energy by adopting the Organic Rankine Cycle in the regasification process of the FSRU.

Cryo-Powered Regas technology is expected to reduce fuel consumption and CO2 emission of FSRUs significantly.

MOL and DSME plan to test the technology in a small-scale pilot facility within 2020 and provide the safe and environmental friendly technology to customers in future FSRU projects.

MOL values promoting environmental and emission-free businesses. This project is one of the cases where MOL will take proactive measures to enhance environmental compatibility of its services.

In MOL's management plan, "Rolling Plan 2019", MOL has positioned its Offshore Business as a field where MOL can leverage its strengths. FSRUs are drawing attention as a solution for flexibility and mobility in both the LNG and Electricity supply chain.

MOL will promote the FSRU business and its associated services, which meets customer needs for diversified energy procurement and SDGs achievement (i.e., environmental condition and stable development), as the leading company of FSRU business in Asia.

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