Golar LNG Wins Chile FSRU Contract

Press Release
Friday, July 06, 2012

Golar LNG Ltd. secures Chile's first Floating Storage & Regasification (FSRU) contract award

Golar LNG Limited has been awarded the Gas Atacama Mejillones Seaport's FSRU Project ("Gas Atacama").

The FSRU will be moored approximately 1.6 km offshore and in approximately 50 metres water depth in the Bay of Mejillones.  The newbuild FSRU will be capable of storing 170,000 m3 of LNG and delivering  approximately 180 MMcfd per day of regasified LNG and will be delivered to the project in the fourth quarter of 2015. 

The initial term of the contract, in Gas Atacama's option, is for 15 or 20 years and is expected to generate an average annual EBITDA of approximately US$48 million for the 15 year charter or US$47 million for the 20 year charter.  Gas Atacama has three, five-year contract extension options, representing a potential 15 additional years of commitments.

The regasified LNG will be delivered via Gas Atacama's subsea pipeline and is intended primarily to supply the on-shore 780MW Central Térmica Atacama thermal power plant. 

Regasified LNG could additionally be used to the meet the demands of some of GasAtacama's mining customers, as well as other power generators. 

Golar is one of the world’s largest independent owners and operators of LNG carriers. They developed the world’s first Floating Storage and Regasification Unit (FSRU) projects based on the conversion of existing LNG carriers.

Gas Atacama is a Chilean energy company which owns a natural gas pipeline and power station.


 

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