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Snam and Golar LNG sign agreement for an FSRU

Published by , Editorial Assistant
LNG Industry,

Snam and Golar LNG Limited (Golar) signed a contract through which Golar will deliver the existing LNG carrier Golar Arctic as a FSRU that Snam will install in the port area of Portovesme, in Sardinia, as part of a project to supply the island with energy.

The contract, for a total consideration of €269 million, includes the vessel and the CAPEX for Golar to convert the Golar Arctic into an FSRU with storage capacity for up to 140 000 m3. Further to the full conversion of the vessel, the FSRU will be sold to the Snam Group.

Start of activities for the conversion of the ship into an FSRU and related fulfilments are subject to Snam’s issuance of a notice to proceed (NTP) and further to that the conversion is expected to take approximately two years for the Golar Arctic to be delivered.

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