Golar LNG Cancels FLNG Vessel Conversion Job with Seatrium
Golar LNG has recently made the decision to call off the floating liquefied natural gas (FLNG) vessel conversion project with Seatrium. This move comes in the wake of Golar LNG’s sale of the Moss type liquefied natural gas (LNG) carrier Golar Gandria for demolition.
The collaboration between Golar LNG and Seatrium has previously resulted in the successful delivery of two floating liquefaction vessels. The Hilli Episeyo, deployed in the Kribi gas field off the coast of Cameroon, and the Golar Gimi FLNG, operating in the Greater Tortue Ahmeyim field offshore Mauritania and Senegal, have showcased the capabilities of this partnership.
However, with the recent sale of the Golar Gandria for demolition in 2023, Seatrium and Golar LNG have mutually agreed to terminate the third conversion contract on December 16, 2024. Despite no physical work having commenced on the vessel at the time of the announcement, this decision has been finalized.
Seatrium has reassured stakeholders that the cancellation of the conversion job is not anticipated to have a significant financial impact on the company’s earnings per share or net tangible assets per share for the current financial year. The organization remains dedicated to providing efficient and sustainable offshore energy solutions in line with the ongoing energy transition.
“The demand for sustainable gas solutions continues to be robust, driven by the global energy transition. With our extensive 60-year track record and expertise in the field, Seatrium is well-positioned to support the development of offshore energy assets and contribute to the growth of the gas value chain,” stated Seatrium in a recent press release.