West Java FSRU Project Execution of Letter of Intent
(Thomson Reuters ONE) -
Further to the Golar LNG Energy ("Golar Energy") announcement on October
12, 2012 that Golar Energy had been selected by PT Nusantara Regas, a joint
venture between Pertamina and PGN, as the successful bidder for the provision of
the West Java Floating Storage Regasification Terminal ("West Java FSRU
Project"), the Board of Golar Energy is pleased to now announce that the parties
have further agreed and executed today a Letter of Intent ("LOI").
The LOI anticipates entry into a long term time charter for the lease of a
floating storage and regasification unit ("FSRU") and associated mooring. The
duration of the contract is until the end of 2022 and further provides automatic
extension options to 2025, subject to certain contract terms. The terms of the
LOI enable Golar Energy to commence the engineering, design and procurement
process for the project. The parties have now begun discussions on finalizing
the FSRU Time Charter Agreement.
The West Java FSRU Project contract value is approximately US $500 million. The
Golar group has already completed three FSRU conversions over the last three
years. The FSRU for the West Java FSRU Project will be similar in design to the
latest of these three projects, the Golar Freeze, recently delivered to Dubai.
The West Java FSRU Project will be Indonesia's first LNG regasifcation terminal
and represents the first FSRU project in Asia. Golar Energy's FSRU technology
offers a reliable and cost effective solution to fast track the import and
regasification of LNG.
Golar Energy's CEO, Oscar Spieler said "We are very pleased with the LOI
execution as it signifies parties agreement to commence the procurement of long
lead items and execution of detailed engineering thereby commencing the FSRU
project execution phase for this critical national energy project. We are very
appreciative of the confidence placed in us and support provided by Nusantara
Regas to move forward on our fourth FSRU project."
November 4, 2010
Hamilton, Bermuda.
Questions should be directed to:
Golar Energy Management Ltd
Oscar Spieler: CEO - +65 6296 5518
Golar Management Ltd - +44 207 063 7900:
Graham Robjohns: Chief Financial Officer
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1458941]
This announcement is distributed by Thomson Reuters on behalf of
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(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 Energy Limited via Thomson Reuters ONE
Datum: 04.11.2010 - 10:36 Uhr
Sprache: Deutsch
News-ID 48429
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