The business will generate power through the Powership by receiving re-gasified LNG through a floating LNG storage and re-gasified unit to provide reliable electricity to shore grids and facilities where base load electricity and/or replacements of fuel made are required to meet environmental concerns.
The significance of this KARMOL collaboration is:
(2)Replacement of higher emission fuels by LNG to significantly reduce greenhouse gas emissions
(3) Business synergy is assumed by combining both companies’ track records and excellence in their operations. MOL’s track record and expertise of LNG Carrier and FSRU business and Karpowership’s track record and expertise of Power-ship business.