Japan's MOL holds naming ceremony for Gail Urja LNGC

Japanese shipping company Mitsui O.S.K. Lines (MOL) conducted a naming ceremony for its second newbuilding LNG carrier (LNGC), the Gail Urja, that will serve Indian gas company Gail, it said on December 22. The ceremony took place on December 19 at Hanwha Ocean’s Okpo Shipyard in South Korea. 

The Gail Urja is set to embark on its maiden voyage to the US for its inaugural loading. The vessel will primarily be engaged in LNG transport from North America to India, operating under a time charter contract with Gail. 

Last year, MOL and Gail signed a time charter contract for the second new building LNG carrier and joint ownership of an existing LNG carrier. The parties signed a contract for the first vessel in 2019.

Gail holds a portfolio of about 14mn tonnes/year of LNG from various long and short-term contracts. In addition to its main supplier, Qatar, Gail also has long-term contracts with Gazprom and ExxonMobil (Gorgon LNG). The company also has two US LNG contracts: one is with Cheniere and one with Dominion. Both are indexed to the most liquid US gas hub, the Henry Hub.  

MOL said it will strengthen its presence and business base in India, where energy demand is expected to increase.