MOL Group

An oversupply of LNG carriers is putting downward pressure on charter rates, pushing them to historic lows. Newbuild LNG carrier deliveries have been outpacing the construction and permitting of new liquefaction facilities needed to support them.

Cash from the Japanese transport specialists will be used to bring Deflin FLNG vessels to FID.

The newbuilds are slated for delivery in 2024.

The US major has had a stake in the field since it started production in 1997. It produced 584,000 B/D of oil last year.