NYK will participate in the design, development and engineering work of a floating LNG storage and regasification power generation facility (FSRP)* planned near Lae, the capital of Morobe province in Papua New Guinea (PNG), together with the Chiyoda Corporation and Moss Maritime AS, a Norwegian company. This design, development and engineering work contract was received by the Chiyoda Corporation from Kumul Petroleum Holdings Limited, a national oil company in Papua New Guinea.

This project is an important step toward meeting the supply and demand requirement set out in the PNG Development Strategic Plan 2010– 2030, which has set a goal of connecting 70% of the PNG population to secure electricity by 2030.

The project will additionally contribute to the reduction of GHG (greenhouse gas) by providing environmentally friendly and sustainable energy to meet the increasing demand for industrial power generation in the country in the future.

The new FSRP facility will have the capacity to generate 75 MW of power to be exported to the local transmission grid, in addition to being able to load and store 140,000 m3 of LNG that can be offloaded to small scale vessels and redistributed to local areas. The LNG can also be regasified and exported as gas via a pipeline to local areas as well.