Gulf Oil and Gas accountACCOUNT

Golar LNG Awarded Kuwait USD$213 m FSRU Contract

Source: www.gulfoilandgas.com 8/4/2013, Location: Middle East

Share |
The Board of Golar LNG Limited is pleased to announce that Golar has executed a firm contract to provide the Kuwait National Petroleum Company ("KNPC") with floating 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. ("Golar Partners") to acquire providing for another potential acquisition with a new and particularly strong counterparty."

LNG Carriers News in Kuwait >>

Finland >>  5/18/2018 - Eniram, a Wartsila company, has signed a Memorandum of Understanding (MoU) with Athens-based Arista Shipping to participate in the Project Forward ini...
Singapore >>  5/16/2018 - Keppel Offshore & Marine's (Keppel O&M) wholly-owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Van Oord to b...

Finland >>  5/7/2018 - The technology group Wartsila will design and equip one of PSA Marine (Pte) Ltd (“PSA Marine”)’s newest harbour tugs. Operating on clean-burning LNG f...
Singapore >>  4/25/2018 - Royal Boskalis Westminster (Boskalis) joint venture Keppel Smit Towage has named its first innovative LNG dual-fuel harbor tug. The tug will shortly e...

Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Related Articles: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 


Kuwait Oil & Gas 1 >>  2 | 3 | 4 | 5 |

More News

 

Oil & Gas Companies in Kuwait >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.