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FLEX LNG LTD signs one year time-charter with Enel

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LNG Industry,

FLEX LNG LTD has announced that, through a separate wholly-owned subsidiary, it has entered into a time-charter agreement with Enel Trade S.p.A. (Enel), a company of the Enel Group, a multinational power company and one of the world's leading integrated electricity and gas operators.

The time charter period of 12 months will commence during the second half of 2019. Enel also has the option to extend the contract by an additional 12 months subsequent to the firm period. FLEX LNG intends to employ the LNG carrier Flex Enterprise for this business, however the company also has the option to nominate one of its sister vessels. Flex Enterprise is a 173 400 m3 LNG carrier with MEGI propulsion built in 2018.

Jonathan Cook, CEO, commented: "We are pleased to announce a time-charter agreement with Enel for one of our new MEGI vessels and we look forward to working closely with them throughout the charter period. This charter is in line with our strategy of adding incremental revenue as the market for LNG shipping continues to improve and provides important earnings visibility for the company."

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