Golar enters into agreements for third floating liquefaction facility
Golar LNG Limited announced today that it has executed agreements for conversion of the 126,000 m3 LNG carrier Gandria to a Golar floating liquefaction facility, the company said in its press release. As with the GoFLNG Hilli and Gimi conversions, the primary contract for the GoFLNG Gandria was entered into with Singapore's Keppel Shipyard Limited ("Keppel"). The Gandria conversion contract marks the exercise of the second of two options that formed part of the initial 2014 Hilli conversion contract. Black & Veatch will provide its licensed PRICO® technology, perform detailed engineering and process design, specify and procure topside equipment, and provide commissioning support for the GoFLNG topsides and liquefaction process.
The recently announced financing for the Hilli project and the flexible terms in the yard contracts for the Gimi and Gandria projects mean that Golar does not expect to raise any additional equity in connection with the ordering of the GoFLNG Gandria. Currently Golar is working with a schedule which includes delivery of GoFLNG Hilli in Q1 2017, GoFLNG Gimi around mid-year 2018, and GoFLNG Gandria H1-2019. This schedule assumes that the Perenco contract is fully executed before September 30, 2015 and that the Ophir contract is executed prior to June 30, 2016.
In addition to signing the third contract, Golar, Keppel and Black & Veatch have agreed to work out acceptable structures for further GoFLNG facilities which make it possible to capitalize on the experience gained to date, preserve the current industry first mover position and continue to develop a powerful growth strategy.
