Mitsui O.S.K. Lines, Ltd. (MOL) has announced the successful signing of a project finance agreement with a syndicate of major international financial institutions—including the Japan Bank for International Cooperation (JBIC), Mitsubishi UFJ Financial Group (MUFG), DBS Bank Ltd., Oversea-Chinese Banking Corporation Limited (OCBC), and Standard Chartered Bank (Singapore) Ltd.—to fund the construction of a new floating storage and regasification unit (FSRU). Once completed, the FSRU will be operated by Singapore LNG Corporation Pte Ltd (SLNG) and serve as Singapore’s second LNG terminal. The project represents a significant milestone, marking the first-ever deployment of an FSRU in Singapore, a country that currently relies on imported natural gas for nearly 95% of its domestic power generation.
The financing highlights the convergence of shared strategic goals among the participating institutions. It aligns with MOL’s mission to support global customers through flexible LNG procurement solutions and ensure energy supply security using FSRUs. The initiative is also supported by JBIC’s commitment to backing the expansion of Japanese companies across Asia, along with MUFG, DBS, OCBC, and Standard Chartered’s collective focus on facilitating the regional energy transition and advancing decarbonization.
MOL emphasized that this project reinforces its Group Vision to address societal needs—particularly environmental stewardship—through innovation and advanced service models. It also supports the company’s long-term management plan, “BLUE ACTION 2035,” which seeks to expand both its shipping and non-shipping portfolio while accelerating the development of low-carbon and decarbonization-focused businesses, consistent with the “MOL Group Environmental Vision 2.2.” Guided by a commitment to sustainability and the protection of natural ecosystems, MOL continues its efforts to contribute to stable energy access and a more resilient future “from the blue oceans.”
