MOL announced the signing of a project finance agreement with a banking syndicate-including the Japan Bank for International Cooperation (JBIC), Mitsubishi UFJ Financial Group, Inc. (MUFG), DBS Bank Ltd. (DBS), Oversea-Chinese Banking Corporation Limited (OCBC), and Standard Chartered Bank (Singapore) Ltd. (SCB)-for a newbuild floating storage and regasification unit FSRU ^{(Note 1)}, to be operated by Singapore LNG Corporation Pte Ltd (SLNG) as Singapore’s Second LNG Terminal.

This FSRU project marks the first deployment of an FSRU in Singapore., where the nation relies on imported natural gas for approximately 95% of its domestic power generation.

This financing was made possible through the convergence of MOL’s mission to support customers in diversifying LNG procurement and ensuring a stable supply via FSRU projects; JBIC’s commitment to supporting the business expansion of Japanese companies in Asia; and the initiatives of JBIC, MUFG, DBS, OCBC, and SCB, which prioritize advancing the energy transition and contributing to decarbonization across the region.

The MOL Group operates a diverse range of social infrastructure businesses centered on the shipping industry, guided by its Group Vision to meet the evolving needs of society-including environmental conservation-through the advancement of technology and services. This project aligns not only with that vision, but also with the group’s management plan, “BLUE ACTION 2035,” which promotes the expansion of both shipping and non-shipping businesses, as well as with the strategy of “expanding low-carbon and decarbonized businesses through a concerted group-wide effort” outlined in the “MOL Group Environmental Vision 2.2.” Committed to the sustainable development and preservation of nature, the group supports society from the blue oceans-sustaining lives and helping to ensure a prosperous future.