MOL closes its business related to the Russian “Arctic LNG-2”
1.10.2024 - 17:21
The Japanese liner shipping company Mitsui O.S.K. Lines (MOL) announced the winding down of its business related to the Russian Federation.
The decision was made in connection with the strengthening of sanctions by the USA and Europe regarding “Arctic LNG-2”, writes Seatrade Maritime.
The company will abandon time charter agreements for three LNG icebreakers and one gas condensate tanker that were part of the company’s Russia-related business.
The total amount of investments under this contract was about $690 million.
It is known that MOL has contracted an ARC7 class tanker for the transportation of condensate as early as 2020. A contract was also signed with the project company for the Russian Arctic LNG-2 project.
It will be recalled that Russia’s largest liquefied natural gas production project “Arctic LNG-2″ stopped working after another round of US sanctions.
