ITOCHU-owned LNG Carrier departs for Japan with first LNG cargo from PNG LNG Project

May 26, 2014

ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) today announced that the LNG carrier Spirit of Hela, which is jointly owned by ITOCHU and MOL(MOL; President: Koichi Muto), has left Papua New Guinea carrying the first LNG cargo from the ExxonMobil-led PNG LNG Project.
The PNG LNG Project is Papua New Guinea’s first ever LNG project, and will provide long-term supply of gas to customers in Japan and others.
The vessel loaded LNG at the Project’s Marine Terminal, which is located near Port Moresby, the capital of Papua New Guinea. The first cargo will be delivered to Tokyo Electric Power Company.
On May 14, Papua New Guinea’s Prime Minister Peter O’Neill visited the vessel for a tour.
ITOCHU Corporation will contribute to the continuous energy supply worldwide in LNG, which is increasingly important recently as one of clean energy.

Specifications of Spirit of Hela

Length 298.43 meters
Breath 46.00 meters
Cargo tank capacity 175,103.173 cubic meters (98.7%)
Main engine Dual Fuel Diesel Electric
Flag of registry Nassau, BAHAMAS

Outline of PNG LNG Project

Project participants

ExxonMobil: 33.2%(operator)

Oil Search Limited: 29.0%

NPCP (Papua New Guinea government agency): 16.6%

Santos Limited: 13.5%

JX Nippon Oil & Gas Exploration Corporation : 4.7%

MRDC (Papua New Guinea government agency): 2.8%

Petromin PNG Holdings: 0.2%

Annual LNG production capacity 6.9 million tons
LNG loading port Near Port Moresby, Papua New Guinea