In October 2011, GDF SUEZ and CNOOC signed a cooperation agreement to work on a China-based LNG Floating Storage Regasification Unit project. The basis of this agreement was a plan hatched a year earlier by which GDF SUEZ would sell CNOOC about 2.6 million tons of LNG starting in 2013 for a 4-year period.
Today, a charter agreement was signed by GDF Suez for HÃ¶egh LNG’s shuttle and regasification vessel, GDF SUEZ Cape Ann. This vessel will be permanently moored and used as China’s first floating LNG storage and regasification unit for a period of up to 5 years. Vessel commissioning and operational startup is expected in October 2013 and HÃ¶egh LNG will remain as the vessel operator.
The vessel will serve the Tianjin project under a sub-charter between GDF SUEZ and China National Offshore Oil Corporation Gas & Power Ltd (CNOOC).
HÃ¶egh LNG President and Chief Executive Officer Sveinung J.S. StÃ¸hle commented on the charter:
“HÃ¶egh LNG is very pleased to have supported GDF Suez with the flexibility of sub-chartering the vessel to CNOOC for the use as an FSRU, and at the same time establish an important presence in a rapidly growing Chinese market.”