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    JBIC, MUFG Bank to finance Senegal FSRU project


Senegal LNGT, a unit of the Japanese shipping company MOL, is developing an FSRU project in Senegal.

by: Shardul Sharma

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Complimentary, Natural Gas & LNG News, Africa, Liquefied Natural Gas (LNG), Security of Supply, Gas to Power, Corporate, News By Country, Senegal

JBIC, MUFG Bank to finance Senegal FSRU project

The Japan Bank for International Cooperation (JBIC) has signed a $35mn loan agreement to finance Japanese shipping company MOL’s FSRU project in Senegal, JBIC said on December 30. The loan is co-financed with MUFG Bank, bringing the total amount to approximately $71mn.

The agreement has been signed with Senegal LNGT, a unit of MOL incorporated in the Republic of the Marshall Islands.


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In Senegal, there is an ongoing project in which the FSRU owned by SLNG will regasify LNG, which will then be used to generate electricity on an LNG powership. The generated electricity will be sold to Senegal’s state-owned power company.

Karmol's first FSRU arrived in Dakar last year. Karmol is an equal joint venture between MOL and Turkish Karpowership.  

The FSRU, which was developed by Sembcorp Marine in Singapore, is 272 m long and has a capacity of 125, 470 m3The vessel will connect to a powership, a floating power plant, owned by Karpowership, through gas pipelines. The powership has a capacity of 235 MW and has been in operation since October 2019, supplying 15% of Senegal's electricity with 220MW of power to Senegal's grid.