PTTEP, Golar to develop floating LNG production

Thailand's PTT Exploration & Production has struck a deal with Norway's Golar LNG to pursue investment in floating LNG production projects worldwide.

Aug 20th, 2008

By an OGJ correspondent
BANGKOK, Aug 20 -- Thailand's PTT Exploration & Production PLC (PTTEP) has struck a deal with Norway's Golar LNG Ltd. to pursue investment in floating LNG (FLNG) production projects worldwide.

Two parties will jointly conduct the study on the investment in stranded offshore or close-to-shore gas fields, operators of which could use the FLNG technology to commercialize their gas reserves economically.

Both firms see this collaboration as a major step forward in the recent trend toward the use of unconventional technologies in the energy industry.

The companies will equally share risks and rewards arising from developing FLNG opportunities not tied to any particular technology or gas reservoir.

PTTEP will contribute its upstream experience in petroleum exploration and production and its access to gas markets, while Golar LNG will contribute its expertise in LNG technology and services, PTTEP said.

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