Golar Enters Into Agreements for Second Floating Liquefaction Vessel
(Thomson Reuters ONE) -
Golar LNG Limited ("Golar" or "the Company") announced today that it has
executed and made effective agreements for conversion of the 125,000 m(3) LNG
carrier Golar Gimi to a floating liquefaction facility (an "FLNGV"). The primary
contract for the second FLNGV was entered into with Singapore's Keppel Shipyard
Limited ("Keppel"). Keppel has simultaneously entered into a sub-contract with
global engineering, procurement and construction company Black & Veatch who will
provide its licensed PRICO(®) technology, perform detailed engineering and
process design, specify and procure topside equipment, and provide commissioning
support for the FLNGV topsides and liquefaction process. This second suite of
agreements closely mirrors those for the conversion of the Golar Hilli executed
earlier this year.
Coincident with the execution of these agreements, long-lead orders for primary
equipment (i.e. gas turbines and cold boxes) will be immediately released. The
Company anticipates that the conversion vessel Gimi will be delivered to Keppel
shipyard in Singapore as early as Q2, 2015 following which the conversion
project will commence with renewal of key systems onboard the vessel while the
topsides are manufactured. The Company expects the FLNGV conversion to be
completed and delivered in approximately 33 months. Additionally, to retain
flexibility in the roll out of Golar's floating LNG strategy (GoFLNG), the
Company has secured certain beneficial cancellation provisions, which if
exercised prior to November 2015, will allow the termination of the contracts
and the recovery of previous milestone payments, less a set cancellation fee.
The Gimi FLNGV conversion contract represents a further step in the
implementation of GoFLNG, the aim of which is to become the industry's leading
integrated midstream LNG services provider, supporting resource owners, gas
producers and gas consumers. This strategy was launched with the conversion of
the Hilli to a floating liquefaction facility and further underpinned by the
recent HOA for the development of a floating liquefied natural gas export
project in Cameroon.
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements concerning future
events and Golar's operations, performance and financial condition. Forward-
looking statements include, without limitation, any statement that may predict,
forecast, indicate or imply future results, performance or achievements, and may
contain the words "believe", "anticipate", "expect", "estimate", "project",
"will be", "will continue", "will likely result", "plan", "intend" or words or
phrases of similar meanings. These statements involve known and unknown risks
and are based upon a number of assumptions and estimates that are inherently
subject to significant uncertainties and contingencies, many of which are beyond
Golar's control. Actual results may differ materially from those expressed or
implied by such forward-looking statements.
Hamilton, Bermuda
December 31, 2014
Enquiries:
Golar Management Limited: + 44 207 063 7900
Brian Tienzo
Stuart Buchanan
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Golar LNG via GlobeNewswire
[HUG#1883975]
Unternehmensinformation / Kurzprofil:
Datum: 31.12.2014 - 10:54 Uhr
Sprache: Deutsch
News-ID 361867
Anzahl Zeichen: 4109
contact information:
Town:
Hamilton
Kategorie:
Business News
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