Keppel gets OK from GasLog for Alexandroupolis FSRU conversion

Singapore’s Keppel Offshore & Marine said it has received the final notice to proceed from a unit of LNG shipping firm GasLog to convert an LNG carrier into a floating storage and regasification unit. The converted FSRU will serve the recently approved Alexandroupolis LNG import project in Greece.

Keppel Shipyard, a unit of Keppel O&M, won the EPC conversion from GAS-fifteen Ltd, a wholly-owned subsidiary of GasLog Carriers.

Besides this contract, Keppel O&M won two additional orders for FPSO integration and work on dredgers. All of the three contracts have a price tag of S$250 million ($186.3 million).

In November last year, Keppel O&M said its unit had received a limited notice to proceed with the conversion from a global provider of LNG shipping services, but it did not reveal the name of the firm.

Keppel O&M said then it had expected the full notice to proceed for the remainder of the work within the first quarter of 2022.

The yard’s scope of work for this project includes the EPC of the regasification skid, as well as the supporting systems such as boilers, spread-mooring, offloading, electrical and automation systems, according to Keppel O&M.

Keppel O&M said this marks the sixth major FSRU conversion for Keppel Shipyard.

Second Greek LNG import facility

Greece’s Gastrade recently took the final investment decision on the FSRU-based 5.5 bcm LNG import project in Alexandroupolis.

Gastrade’s shareholders include Copelouzou, DESFA, DEPA, GasLog, and Bulgartransgaz.

The partners expect to launch the terminal by the end of 2023.

Also, it would become the second Greek LNG import terminal after DESFA’s facility located on the island of Revithoussa and the country’s first FSRU.

The LNG import project’s 153,500-cbm FSRU would sit 17.6 kilometers offshore the town of Alexandroupolis in northeastern Greece, Gastrade previously said.

It will connect to the Greek domestic gas grid via a 28 kilometers long pipeline.

GasLog and Keppel O&M did not reveal the name of the LNG carrier that will undergo conversion.

Looking at the planned capacity, it could be the 2010-built GasLog Chelsea that has a capacity of 153,600 cbm.

Following completion of the conversion works, the FSRU will eventually be transferred to Gastrade while GasLog will operate and maintain the unit.

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