Golar: Croatian FSRU set to depart China late September

Croatia’s first FSRU will leave the Hudong-Zhonghua yard in China to its base on the island of Krk in the northern Adriatic Sea late September, according to the vessel owner Golar LNG.

Golar, led by Norwegian businessman Tor Olav Troim, won a deal last year to provide its 2005-built 140,205-cbm vessel Golar Viking to the Krk project and convert it to a FSRU.

Later the same year, the LNG shipper agreed a $160 million sale and leasback deal for the vessel with the financial leasing unit of China State Shipbuilding Corporation. Hudong is also a CSSC unit.

The ship arrived at the Huarun-Dadong yard near Shanghai, where Hudong is a shareholder, in January for the conversion works expected to take at least six months.

However, this project also faced difficulties related to the ongoing Covid-19 pandemic that continues to disrupt the entire industry.

“The project team and contractors are working hard to mitigate any Covid-related challenges,” Golar’s chief executive Iain Ross said during the company’s call discussing second-quarter results.

“We are now planning for the vessel to depart from China to Europe late September, with vessel delivery upon commissioning and completion by the year-end according to the original plan,” he said.

Croatia to become LNG importing nation

LNG Croatia, the state-owned Krk terminal developer, plans to officially launch the long-awaited facility on January 1, 2021.

With this launch, Croatia will join the growing number of worldwide LNG importing nations.

The Krk terminal will send up to 2.6 bcm per year of natural gas into the country’s grid.

It includes the FSRU connected to a jetty and additional facilities, and the connecting high-pressure gas pipeline.

LNG Croatia previously said it would complete onshore works by November, just in time when the FSRU arrives.

Furthermore, the terminal developer also revealed that all of terminal’s capacities have been booked for the next three years.

The capacity takers include Hungary’s state-owned MFGK and trading firm MET.

Qatar’s PowerGlobe, the energy arm of privately-held Optimized Holding, booked the largest capacity spanning a period of 15 years.

Croatian first LNG import project costs 233.6 million euros ($276.6 million). EU is providing 101.4 million euros from the Connecting Europe Facility.

The project will also receive 100 million euros from the state budget and 32.2 million euros from shareholders equity contribution.

- Advertisements -

Most Popular

QatarEnergy picks shipowners for 18 giant LNG carriers

LNG giant QatarEnergy has selected shipowners to own and operate 18 Q-Max LNG carriers as part of its massive...

Canada’s FortisBC, Seaspan win provincial approval for Tilbury LNG jetty

Canadian utility and operator of the Tilbury LNG facility in the province of British Columbia, FortisBC, and its partner...

VTTI, IKAV to take majority stake in Italy’s Adriatic LNG terminal

Rotterdam-based storage terminal owner VTTI, co-owned by Vitol, IFM, and Adnoc, joined forces with German asset manager IKAV to...

More News Like This

QatarEnergy picks shipowners for 18 giant LNG carriers

LNG giant QatarEnergy has selected shipowners to own and operate 18 Q-Max LNG carriers as part of its massive...

Hudong-Zhonghua launches two LNG carriers

Chinese shipbuilder Hudong-Zhonghua has on Sunday launched two liquefied natural gas carriers as it looks to deliver in total...

LNG-fueled CMA CGM Paraty wraps up trials in China

The 13,000-teu LNG-powered containership, CMA CGM Paraty, has completed its sea and gas trials in China, according to Hudong-Zhonghua. Following...

MOL’s LNG carrier starts trials in China

MOL's 174,000-cbm LNG carrier, Greeenergy Ocean, has started its sea trials in China, according to Hudong-Zhonghua. The LNG carrier (H1880A)...