Kuwait Petroleum Signs Charter Contract for Golar LNG’s Newbuild FSRU

Golar frost fsruGolar LNG has announced they have received a 5-year, USD $213 million charter contract with the Kuwait National Petroleum Company (KNPC) for their 170,000 cbm Golar Igloo newbuild floating storage and regasification (FSRU) unit.

Beginning in March 2014, the Golar Igloo will be docked nine months of the year at KNPC’s LNG import terminal Mina Al Ahmadi and have a three month window where the vessel will be free to pursue spot carrier and other short term business opportunities.

Golar LNG’s CEO, Doug Arnell commented in an emailed statement:

“Kuwait is an established LNG importer and we look forward to working closely with our new customer.  We are very pleased that an experienced LNG industry player such as KNPC has entrusted Golar with their FSRU services which demonstrates our established reputation as a leading operator of floating midstream LNG assets.   As this is a five year charter the vessel will be offered to Golar LNG Partners L.P. to acquire providing for another potential acquisition with a new and particularly strong counterparty.”