Asia's first floating regas moves ahead

By OGJ editors
HOUSTON, Apr. 21
-- Golar LNG Energy, Bermuda, announced completion of a long-term floating storage and regasification (FSRU) and mooring time charter with PT Nusantara Regas, a joint venture of Indonesia’s Pertamina and PT Perusahaan Gas Negara (PGN), the country’s largest natural gas distribution company.

The West Java FSRU project will be Indonesia's first LNG regasifcation terminal and the first FSRU in Asia.

Contract duration is for an initial term of about 11 years, said Golar, with automatic conditional extension options up to 2025. The West Java FSRU project contract value for the initial period is about $500 million.

Since execution of a letter of intent in November 2010, Golar has ordered the long-lead items and carried out conversion engineering, and the vessel nominated for this contract, Khannur, has been positioned to Singapore where the physical conversion is under way at Jurong Shipyard.

Upon delivery in first-quarter 2012, Khannur will be permanently moored at a purpose-built structure 15 km off West Java. It will be able to store 125,000 cu m of LNG and deliver up to 500 MMscfd (3.8 million tonnes/year) of regasified LNG via Nusantara Regas’s pipeline to fuel two power plants owned and operated by Perusahaan Listrik Negara, Indonesia’s national power company.

Golar has already completed three FSRU conversions over the last 3 years, it said. The FSRU for West Java will be similar in design to the latest of these three projects, the Golar Freeze, which recently delivered under a long-term contract in Dubai.

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