LNG

Royal Vopak, the Netherlands-based global storage company, and Japanese shipping line Mitsui OSK Lines have reached an agreement whereby Vopak will acquire a minority stake in the “MOL FSRU Challenger” whose name will change to “Bauhinia Spirit” before being deployed as a Hong Kong LNG import terminal.

Hong Kong Electric, the former British colony’s main power company, said the first LNG import project in the territory now administered by China, including the world’s largest floating storage and regasification unit, will start operations in mid-2022.