JBIC, MUFG Bank Announce $71 Million Loan for FSRU Project in Senegal

JBIC. MUFG

The deal was signed between the JBIC and Senegal LNGT Company Limited (SLNG) and features a financing scheme that will serve to contribute towards Senegal’s energy transition and through which repayments will be made by income generated from the regasification project.

The FSRU project will regasify LNG for use in electricity generation on an LNG powership, which will then be sold to Senegal’s state-owned power company, Société national d’électricité du Sénégal (Senelec).

“Supporting MOL in maintaining and improving its know-how for operation and maintenance of FSRUs in this project will contribute to MOL improving its international competitiveness in the marine development sectors,” JBIC indicated in a statement.

The FSRU, owned by Karmol, an equal joint venture between MOL and Turkish powership developer and operator, Karpowership, stands at 272m in length and boasts a capacity of 125,000m3, and will supply LNG to Karpowership’s 235 MW floating power plant, which is situated along the shore of Senegal’s capital of Dakar. Power generated from the powership will be purchased by Senelec as part of the Senegal’s LNG-to-power strategy.

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Onur Yilmaz

Onur Yilmaz

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