Golar LNG has signed an engineering, procurement and construction (EPC) agreement with Yantai CIMC Raffles Offshore for its fourth floating liquefaction natural gas (FLNG) production vessel, at a total budget of around $2.45bn.
Delivery of the vessel to its intended site is anticipated by the end of 2029
The new vessel will be Golar LNG’s second to use the MKII design and is planned to provide an annual liquefaction capacity of 3.5 million tonnes (mt) of LNG. The agreement follows the company’s efforts through the year to secure necessary equipment and delivery slots, which Golar LNG says has supported the targeted delivery timeline. A vessel for conversion into the floating LNG facility has already been acquired for the project.
This fourth floating LNG unit is scheduled to be completed at the CIMC Raffles shipyard, where Golar LNG’s FLNG Esperanza, another MKII design vessel, is currently under construction. The company expects to gain efficiencies from repeating the design and constructing both vessels at the same yard, leading to operational synergies. As part of the contract, Black & Veatch will contribute its PRICO liquefaction technology and provide detailed engineering and process design services.