The FSRU will be operated in the southern waters of Hong Kong (east of Soko Archipelago) under a long-term charter to Hong Kong LNG Terminal Ltd, which was jointly established by two local power companies in Hong Kong, namely CLP Power Hong Kong Limited, and The Hongkong Electric Company, Ltd (HK Electric). The FSRU will regasify LNG and supply natural gas via two subsea pipelines to CLP Power's Black Point Power Station and HK Electric's Lamma Power Station. MOL FSRU Terminal (Hong Kong) Ltd will provide not only FSRU's operation, but also jetty operation and maintenance services and port-related services.
Through the project, MOL will contribute to the achievement of the Hong Kong government's decarbonisation and air quality improvement targets by realising the first LNG import project in Hong Kong and by significantly increasing the proportion of low-carbon power generation. Furthermore, leveraging the knowledge and expertise acquired through the project, MOL aims to become more deeply involved in various value chains from upstream to downstream in the clean energy industry, not limited to transport services.
