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 >>

Oman >>  2/15/2018 - Saipem has been awarded a new contract in the onshore E&C sector worth approximately USD 750 million. Work involves engineering, procurement, construc...
Kuwait >>  2/13/2018 - EQUATE Group, a global producer of petrochemicals, proudly announces that 34 Kuwaiti operations technologists have joined the company’s growing team o...

Saudi Arabia >>  2/12/2018 - Wood has secured a new multi-million dollar, five-year contract to support Saudi Aramco in the delivery of one of its mega-projects in the Kingdom of ...
United Arab Emirates >>  2/7/2018 - A US $3.1 billion project to introduce crude processing flexibility, at the Abu Dhabi National Oil Company (ADNOC) owned Ruwais oil refinery, was anno...

United Arab Emirates >>  1/31/2018 - His Excellency Dr Sultan Al Jaber, UAE Minister of State and ADNOC Group CEO, has held a series of meetings with government and corporate leaders in B...
Israel >>  1/29/2018 - Energean Oil & Gas is pleased to announce that Energean Israel has signed a contract with Stena Drilling for the development drilling of the Karish Fi...

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.