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

Contracts

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

G6 Alliance Extends Asia – North America Service

In response to market demand, members of the G6 Alliance today announced the below enhancement to improve the Asia – North America (East Coast) trade. NYK will

Stena RoRo Charters Three Vessels

Stena RoRo has reached an agreement with the Finnish shipping company Godby Shipping to long-term charter their three RoRo vessels Misida, Misana and Miranda.

Shipbuilding

Drydocks World Completes World’s Largest Turret

Drydocks World the leading provider of maritime and offshore services to the shipping, oil, gas and energy sectors marked a major milestone in successfully completing

AVEVA, DNV GL's Sesam Integration Cuts Cost

Integration of Aveva and DNV GL's Sesam Reduces Costs in Maritime and Offshore Engineering. Engineers designing ship hulls and offshore floaters can now save

FORAN for Pertamina's Future Ships

FORAN has been chosen by state-owned company PERTAMINA to review the design of their future oil product carrier ships, under construction in a shipyard with the FORAN System.

LNG

Drydocks World Completes World’s Largest Turret

Drydocks World the leading provider of maritime and offshore services to the shipping, oil, gas and energy sectors marked a major milestone in successfully completing

CNOOC Acquires Asia's 1st LNG Powered Tug

China National Offshore Oil Corporation (CNOOC) has taken delivery of Asia’s first tugboat Hai Yang Shi You 525, designed to operate solely on liquefied natural gas as ship’s fuel.

Teekay LNG Partners Declares Distribution

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended June 30, 2015. The cash distribution is payable on August 14,

Middle East

ASRY Inks UK Royal Navy Support Contract

ASRY and Babcock have signed a long term support facility agreement to provide ongoing services to the U.K. Royal Navy in Bahrain   ASRY (Arab Shipbuilding & Repair Yard),

San Leon Signs Moroccan Rig Deal

San Leon Energy signed a rig contract for the drilling of the El Aaiun-4 well on the Tarfaya conventional licence, onshore Morocco. The rig contract has been

Sanamar Launches 3 Tugs from New Yard

Sanmar’s new custom-built, general purpose shipyard at Altinova, Turkey, has launched three 60-metric-ton bollard pull tugs on the same day, less than five months since work first started at the yard.

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | 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: 0.1322 sec (8 req/sec)