MOL LOOKS TO EXPAND ENERGY TRANSPORT BUSINESS IN U.S., EUROPE
Mitsui O.S.K. Lines Ltd. on Wednesday said it plans to open sales offices in London and Houston to expand its energy transport business.
The new offices will focus on meeting anticipated growth in demand for transport of liquefied natural gas (LNG).
MOL's wholly owned U.S. subsidiary, Mitsui O.S.K. Bulk Shipping (USA) Inc. will open the Houston office on Sept. 1, with a full-time Japanese staff to explore new LNG business with energy companies in the United States.
The office will also prepare for MOL's operation of four LNG carriers equipped with the EP Energy Bridge system for El Paso Corp., a U.S. energy company, which signed a contract to charter the four vessels in July 2001, along with Belgium-based Exmar Group.
In Europe, MOL's wholly owned subsidiary Mitsui O.S.K. Bulk Shipping (Europe) Ltd. was established June 25. A specialist in the office focuses on strengthening sales and marketing activities for LNG import projects in Spain, France, Italy, the United Kingdom and other countries. The new office will also work with the Snohvit LNG project involving MOL and Leif Hoegh & Co. ASA, Norway's largest LNG carrier.
In LNG exporting countries, MOL has already opened offices in Doha (Qatar) and Muscat (Oman).