Bumi Armada Signs Maltese Floating LNG Storage Contract

lng carrier ship
File image via Gasol

Malaysian offshore oil & gas services provider, Bumi Armada Bhd has signed agreements this week with ElectroGas Malta Ltd whereby they will convert an existing LNG carrier into a floating LNG storage unit and then operate it from a new terminal at Delimara, Malta.   The natural gas will supply an existing 149MW power plant, which will be converted to operate on gas, and also a new 210 MW independent power plant that will be built, owned and operated by ElectroGas.

Bumi Armada says this contract is for a firm period of 18 years and 2 months and is worth approximately USD $300 million.  Operations are expected to comments in 2016.

It’s unclear whether the vessel will have LNG regasification systems installed aboard it or if the LNG will be regasified on shore and we have reached out to ElectroGas Malta for clarification.