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Publish Date : 13-Aug-2013

US-based Golar has signed a deal with the Kuwait National Petroleum Company (KNPC).

The five-year contract worth $213m is to provide floating storage and regasification (FSRU) services, supporting their LNG import operations at Mina Al Ahmadi.

The contract features offering portside FSRU services for an anticipated nine months of the year along with a three-month window where the vessel is free to pursue spot carrier as well as other short term business opportunities.

Delivery of the 170,000cbm new-build FSRU Golar Igloo is scheduled during the fourth quarter of 2013.

Golar CEO, Doug Arnell stated, "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," Arnell added.

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