US-based Golar has signed a $213m deal with the Kuwait National Petroleum Company (KNPC) to provide floating storage and regasification (FSRU) services to support their LNG import operations at Mina Al Ahmadi.
The five-year contract comprises the provision of portside FSRU services for an anticipated nine months of the year together with a three-month window where the vessel is free to pursue spot carrier and other short term business opportunities.
Winter scheduling of the three month stand-down period together with favorable positioning mean that the company is optimistic for the vessels trading prospects.The 170,000cbm new-build FSRU Golar Igloo will be delivered during the fourth quarter of 2013 and will service a contract set to start in March 2014.
Golar CEO, Doug Arnell said: “Kuwait is an established LNG importer and we look forward to working closely with our new customer. We are very pleased that an experienced LNG industry player such as KNPC has entrusted Golar with their FSRU services which demonstrates our established reputation as a leading operator of floating midstream LNG assets.
“As this is a five-year charter, the vessel will be offered to Golar LNG Partners L.P. (“Golar Partners”) to acquire providing for another potential acquisition with a new and particularly strong counterparty.”
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