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Sunday, 6 October 2013

Golar's FEED study with Keppel Shipyard

CW8888: So far there is no official update from Keppel relating to Golar's FEED study.

But, found this update from:

Golar LNG Limited Interim Results for the Period Ended June 30, 2013

HAMILTON, BERMUDA--(Marketwired - Aug 29, 2013)

Floating Liquefaction ("FLNG")

Golar's FEED study with Keppel Shipyard and its liquefaction topside partners is nearing completion. The FEED is for the conversion of an existing 125,000 cubic meter Moss LNG Tanker into a Floating Storage and Liquefaction Vessel ("FSLV"). The FSLV will have 1 to 4 liquefaction trains with each train being approximately 0.6 Million Metric Tonnes per Annum ("MMTPA") of liquefaction capacity. This will allow Golar to pursue projects with approximately 0.6 to 2.4 MMTPA of capacity.

Total cost for the FEED study is expected to reach $5.2million which is broadly in line with the original budget. The Company is optimistic that the FEED results will verify the FSLV as being one of the lowest cost liquefaction solutions in the market with a capital cost which is extremely competitive against traditional solutions, and an execution window of approximately 30 months from financial commitment. The preliminary price indications for the project clearly confirms the competitiveness, however some more work needs to be done in order to draw the final conclusion. [CW8888: This could mean further delay in contractual award]

The modular nature of Golar's solution will allow the FSLV to be cost competitive across a wide range of reserve sizes and associated production capacity. This scalability allows Golar to pursue both large scale projects based on 4 train FSLVs or "stranded" reserves as small as 500 Billion Cubic Feet ("BCF").

In addition to Douglas Channel, The Company is pursuing another project in the Americas to export pipeline quality gas. Golar is also in discussions with producers and host governments in four different West African countries for both large scale and stranded gas projects.

The Board is pleased with the results to date of the FEED study and believes that Golar's FSLV can offer the market a flexible, modular liquefaction solution for clean gas reserves and deliver this earlier than anybody else.

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