OREANDA-NEWS. Mitsui O.S.K. Lines, Ltd. (MOL) announced the conclusion of a contract for a long-term liquefied natural gas (LNG) transport with Osaka Gas Co., Ltd. and Kyushu Electric Power Co., Ltd.

As MOL has concluded the contract with Osaka Gas and Kyushu Electric Power, it will soon sign a contract with Mitsubishi Heavy Industries Co., Ltd. (MHI) for construction of a 155,000cm3 LNG carrier.

The vessel will transport LNG that Osaka Gas and Kyushu Electric Power purchase through the Australia Ichthys LNG project. This contract marks the first time that an LNG carrier wholly owned by a Japanese shipping company will serve on joint transport for electric power and gas companies in Japan.

LNG has drawn attention as an environment-friendly energy resource. New large-scale projects are being planned in North America and East Africa, setting the stage for increased demand for LNG transport. MOL strives to further expand its LNG transport services by using experience, know-how, and networks accumulated as the world's largest LNG carrier owner and management company by meeting a broad range of customer needs