Gulf Oil and Gas accountACCOUNT

Golar LNG Awarded Kuwait FSRU Contract

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

Share |
The Board of Golar LNG Limited ("Golar" or the "Company") 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 Terminal News in Kuwait >>

Iraq >>  5/14/2018 - KBR, Inc. has been awarded a contract by Basra Oil Company (BOC) for the development of the Majnoon Oil Field in Basra, Iraq. Under the terms of the c...
United Arab Emirates >>  5/14/2018 - The Abu Dhabi National Oil Company (ADNOC) has signed a project development agreement with Cepsa of Spain for a new, world-scale Linear Alkylbenzene (...

United Arab Emirates >>  5/13/2018 - The Abu Dhabi National Oil Company (ADNOC) unveiled plans to invest AED 165 billion (US $45 billion) alongside partners, over the next five years, to ...
Saudi Arabia >>  5/5/2018 - Saudi Aramco has further expanded its In-Kingdom Total Value Add (IKTVA) program and strengthened its relationship with local industry players by awar...

Saudi Arabia >>  4/30/2018 - KBR, Inc. has been awarded a contract by Saudi Arabian Oil Company (Saudi Aramco) and SABIC as the second Project Management Contractor (PMC) to provi...
Saudi Arabia >>  4/30/2018 - Rowan Companies plc expects that four of its idle jack-ups will be leased to ARO Drilling to fulfill four three-year contracts that ARO Drilling has b...

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 |

Oil & Gas Projects in Kuwait >>

More News

 

Oil & Gas Companies in Kuwait >>


Related Links

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