In the project economics bucket, Golar LNG has awarded an engineering, procurement, and construction contract to Yantai CIMC Raffles Offshore for its fourth floating LNG unit. The vessel will be the second unit based on Golar’s MKII design.
The project has a budget of about 2.45 billion dollars through delivery to its prospective operating site. The unit will have annual liquefaction capacity of 3.5 million tonnes and is expected to leave the shipyard by the end of 2029.
Golar has secured a donor vessel for the conversion. Black and Veatch will supply its PRICO liquefaction technology, complete detailed engineering and process design, procure topside equipment, and support commissioning.
The repeat order follows the first MKII unit, FLNG Esperanza, which is already under construction at the same yard. Golar expects the shared design and overlapping build schedules to lower execution risk, while the new vessel would increase its controlled liquefaction capacity by about 40 percent to more than 12 million tonnes per year.
Golar is seeking a long term charter for the unit and said advanced commercial discussions are underway. The order adds scarce floating liquefaction capacity for gas projects that need an offshore route to market without waiting for a conventional land terminal.