State energy company Gaz-System has signed its time-charter deal with Japan’s Mitsui OSK Lines for what will be Poland’s first floating storage and regasification unit.
The contract, which was signed by Gaz-System and MOL company White Eagle Energy, is for 15 years and includes options to extend the hire.
Gaz-System also has purchase rights on the FSRU.
No rate details were given.
MOL, which already boasts seven regas units, contracted a 174,000-cbm FSRU newbuilding at HD Hyundai Heavy Industries in March for the business.
At the time, the shipbuilder priced the FSRU, which is due for delivery by July 2027, at KRW 483.9bn ($363m).
Poland’s first FSRU terminal is to be located in the Bay of Gdansk around 3 km offshore.
The regas unit will have a capacity of around 6.1bn cbm of gas per year.
Poland’s Orlen group has signed up to take all the capacity at the new facility.
Gaz-System will be responsible for the new terminal along with the ship berth, connecting pipelines and providing regasification services.
Commissioning of the complete project is planned for 2027 to 2028.
MOL will manage the FSRU.
The project to install the FSRU is being treated as a “strategic investment” by Poland, which has had a land-based LNG import terminal in operation since 2015.
The FSRU is seen as key to the country’s energy security while also helping it transition to lower emissions.
Gaz System said the unit will be adapted to provide other services.
The project is backed by European Commission funding.
Gaz-System president of the management board Slawomir Hinc said: “The signed time charterparty agreement is the result of a very intensive tender process initiated last year and many months of negotiations between Gaz-System and Mitsui OSK Lines. The contract specifies detailed conditions for the charter of the first floating regasification unit in Poland.”
Poland’s government plenipotentiary for strategic energy infrastructure Maciej Bando said: “The FSRU terminal is a strategic investment that will meet the most urgent needs related to ensuring the diversification and security of natural gas supplies both to Poland and the region.”
MOL managing director for Europe and Africa Toshinobu Shinoda said: Mitsui OSK Lines appreciates the opportunity to contribute to increasing Poland’s energy security.
