Golar LNG Ltd announced it has reached agreement for the development of the company’s first floating liquefied natural gas vessel (FLNGV). The agreement is with Keppel Shipyard Limited and is based on the conversion of existing Moss LNG carriers of which Golar owns three potential candidates. Golar has already successfully converted three other Moss carriers into Floating Storage and Regasification Units (“FSRU’s”) of which Keppel has converted two.
The first FLNGV will have a capacity of up to 2 Mt/yr and will utilize the existing 125,000 cubic meters of LNG storage on board the carrier. Keppel will start the FEED study in November and detailed design and engineering is expected to be concluded around mid-2013 when vessel conversion is expected to start. The first unit will be developed through several construction stages in order to accommodate customer requirements and is expected to be ready for production by Q1 2015. Golar retains the option to convert two additional vessels with Keppel under the same agreement. The company sees its partnership with an experienced shipyard and a production plant provider with significant LNG experience as valuable for minimizing technical risk in the project.