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Friday, January 2, 2015
Golar LNG Ltd. saw a second agreement signed for the conversion of LNG carrier Golar Gimi into a floating liquefaction facility (FLNGV). The primary contract for the second FLNGV was entered into with Singapore’s Keppel Shipyard Ltd. (Keppel). Keppel has simultaneously entered into a sub-contract with global engineering, procurement and construction company Black & Veatch who will provide its licensed PRICO(R) 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 agreement closely mirrors the recently signed HOA for the conversion of the Golar Hilli. The Golar Hilli will be used in West Africa offshore Cameroon.
Golar 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.
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