Keppel partners LNG shipping firm to build FLNG facility

KEPPEL Corporation on Tuesday said it will partner liquefied natural gas shipping company Golar LNG to develop, construct and operate a floating liquefied natural gas facility to be located on the Mauritania and Senegal maritime border.

Gimi MS will take on the development, construction and operation of this FLNG facility. Concurrent to the share subscription agreement, Gimi MS has also executed a 20-year FLNG lease-and-operate agreement with BP. With the funds from the subscription of shares by its shareholders, Gimi MS will acquire and own the Moss LNG carrier Gimi, which will be converted into an FLNG vessel by Keppel Shipyard. In December 2018, Keppel Shipyard received the limited notice to proceed from Golar to commence early conversion works. The carrier has been relocated from layup to Keppel Shipyard in Singapore where conversion works will soon start, Keppel said.

FFH is committed to invest up to an estimated maximum total of US$250 million in connection with the project, inclusive of the subscription price.

Source: News Formal (newsformal.com)

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