“Floating Gas Plant” Toscana Delivered
Tugs Fairmount Summit and Fairmount Alpine have delivered the very first “floating gas plant” in the world, the FSRU Toscana, safely offshore Livorno, Italy. The Toscana, a one of a kind unit, was towed from Dubai via Malta where final equipment was installed. After delivering the Toscana, both Fairmount tugs assisted in mooring the unit to her six pre installed anchors. The Toscana is a so-called floating, storage and re-gasification unit (FSRU) which is now moored 12 miles offshore Livorno and will be used as a terminal and export point for liquefied natural gas (LNG).
Drydocks World Finalizing Conversion
Naming ceremony held in the presence of senior personnel. Drydocks World, a maritime services provider, after the naming ceremony held yesterday by OLT LNG Offshore Toscana, announced that the FSRU Toscana conversion project at the Dubai based shipyard, is going to be finalized. The Floating Storage and Re-gasification Unit is intended for a 20 year design life 12 nautical miles off the shores of north-west Italy, in the waters of the Tyrrhenian Sea close to Livorno. The Liquefied Natural Gas (LNG) carrier Golar Frost…
Golar LNG Announces Q1 Results
Golar LNG reports its highest ever quarterly net income at $53.3 million for the three months ended March 31, 2007, as compared to $36.6 million for the three months ended December 31, 2006. These results include the gain on the sale of newbuilding DSME Hull 2244 of $41.1 million. Operating income was also increased at $58.6 million for the first quarter as compared to $40.4 million for the fourth quarter. Revenues have been negatively impacted by a generally weaker spot market for trading LNG ships during the first quarter. Two of Golar's six vessels exposed to the spot market were fixed throughout the period at good rates, but this was offset by two of the other vessels suffering extended periods of idle time.
Golar LNG Limited Enters Joint Venture Agreement
Golar LNG Limited signed a share purchase agreement with OLT Energy Toscana SpA in November 2006 for the acquisition of 20% of shares in OLT Offshore LNG Toscana SpA (OLT-O). The purpose of the joint venture company OLT-O is the construction of the Livorno offshore LNG import and regasification terminal, which will be located approximately 20 kilometers off the coast. Source: CCN
