Golar LNG Wins Kuwait FSRU Contract

MarineLink.com
Tuesday, August 13, 2013

Golar has been contracted by Kuwait National Petroleum Company to provide loating storage and regasification ("FSRU") services to support their LNG import operations at Mina Al Ahmadi.

The contract will be for an initial period of 5 years and comprises the provision of portside FSRU services for an anticipated nine months of the year together with a three month window where the vessel is free to pursue spot carrier and other short term business opportunities. 

Winter scheduling of the three month stand-down period together with favourable positioning mean that the company is optimistic for the vessels trading prospects.   The 170,000cbm newbuild FSRU Golar Igloo which delivers during the fourth quarter of 2013 will service the contract that is set to commence in March 2014.  With a total contract value of approximately USD$213 million covering both capital and operating elements over five years, Golar expects to supplement these earnings with additional hire payments during the winter months each year.

Golar LNG's CEO, Doug Arnell said "Kuwait is an established LNG importer and we look forward to working closely with our new customer.  We are very pleased that an experienced LNG industry player such as KNPC has entrusted Golar with their FSRU services which demonstrates our established reputation as a leading operator of floating midstream LNG assets.   As this is a five year charter the vessel will be offered to Golar LNG Partners L.P. to acquire providing for another potential acquisition with a new and particularly strong counterparty."
 

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Haven Marine Bags Back To Back Dockings

Despite a slow start to the year, Haven Marine Services reports it is now seeing a change in fortunes with two dockings for Svitzer in quick succession, with one

Johan Sverdrup Contract to "Pioneering Spirit"

Statoil has signed a contract with Allseas for installation of three platform topsides on the Johan Sverdrup field.   The vessel will be installing the topsides for the drilling,

Chassis Pools for Port of Long Beach

Three companies that own the vast majority of chassis serving the San Pedro Bay ports are on track to activate a “gray chassis fleet” of truck-trailers on March 1,

Shipbuilding

Liebherr Reports Record Year for Offshore Cranes

With 87 units delivered in 2014, Liebherr offshore cranes achieved a new per year delivery record, more than doubling its delivery numbers from 2012. And according to Liebherr,

Viking Neptun Delivered for Technip

Viking Neptun was delivered from Kleven Verft to Eidesvik on February 17, and the naming ceremony was held in Stavanger on February 28. The vessel’s Godmother,

MOL Expands Container Fleet

Mitsui O.S.K. Lines, Ltd. has signed a deal for construction of four 20,000 TEU containerships with Samsung Heavy Industries. MOL also concluded an MOU for long-term chartering of two 20,

LNG

Eniram to Provide Boil-off Management for LNG Sector

Eniram Limited, the Finnish provider of energy management technology and data analytic services to the shipping industry, announced that it is releasing an onboard

Tallink & Meyer Turku to Build LNG Ferry

AS Tallink Grupp and Meyer Turku Oy signed a contract for the construction of LNG powered fast ferry for Tallinn-Helsinki route shuttle operations. The dual

ADB Okays $30mln for Pak LNG Terminal

The Asian Development Bank (ADB) has approved a $30 million project loan to Engro Elengy Terminal Private Limited, a special purpose company which will build Pakistan’s

Middle East

Keels Laid for Two Aluminum OSVs

Triangle Marine Services and Marine Core & Charter host keel laying ceremony for two Aluminum Fast Offshore Support Vessels   UAE-based shipbuilder Triangle Marine

Propulsion Systems Ordered for Qatar Coastguard Vessels

Rolls-Royce waterjets and MTU diesels to power 17 new patrol boats for the Qatar Coastguard   Rolls-Royce has secured a £15.8 million contract to supply Rolls-Royce

Abu Dhabi Ship Building to Deliver 3 UAE Warships by 2016

Abu Dhabi Ship Building Company will deliver three Baynunah warships to the United Arab Emirates Navy by 2016 and is in discussions with other buyers to sell more, its chief executive said on Monday.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1998 sec (5 req/sec)