Bumi Armada Berhad announced that its subsidiaries Armada Floating Gas Storage Malta Ltd (AFG Storage) and Armada Floating Gas Services Malta Ltd (AFG Services), have entered into agreements with ElectroGas Malta Ltd (EGM) for the conversion, supply and operations and maintenance of an LNG floating storage unit (FSU).
The FSU will be used in the operations of an LNG receiving terminal located at Delimara, Malta. The effective date of the agreements is 13 April 2015.
The contracts are for a firm period of 18 years and 2 months, with an expected value of approximately US$300 million. The FSU is expected to commence operations in 2016.
Commenting on the agreements, Chan Chee Beng, Executive Director and Acting CEO, said: “These contracts are a significant milestone for Bumi Armada’s new venture in the promising floating LNG business. The project is of national importance to Malta and we are proud of being entrusted to deliver a critical part of this project.”
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/floating-lng/14042015/lng-fsu-for-malta-project-592/