Golar updates Indonesian FSRU projects

The following is an edited excerpt of West Java and N. Sumatra FSRU projects taken from Golar LNG?s Preliminary Fourth Quarter and Financial Year 2010 Result published on Tuesday. (ed)

 

 

Negotiations are progressing smoothly between Company and Nusantara Regas to finalize the floating storage and regasification unit (FSRU) time charter party for the West Java FSRU project. The project represents Golar's fourth FSRU project and is for a period of approximately 11 years with an approximate contract value of $500 million. The project scope involves the conversion of Golar Energy's 1977 built LNG carrier Khannur into an FSRU with 500 MMCFD regasification capacity (approximately 3.8 MTPA) and the provision of associated mooring infrastructure.

 

 

 

Since being selected for the project in October 2010, the Company has entered into a Letter of Intent and Project Continuation Agreement which provide the Company the financial security from Nusantara Regas to proceed with detailed engineering and procurement activities of long lead items in order to maintain the scheduled delivery date while finalizing charter party negotiations.

 

 

 

FSRU and mooring detailed engineering, procurement and construction related activities are well underway. Detailed engineering is progressing according to schedule. The majority of critical long lead items have been ordered.

 

 

Over the last quarter Golar Energy has been pre-qualified for the Medan LNG FSRU project in North Sumatra. (end of edited excerpt)