The government of Bahrain firmed up agreements with a consortium comprising Teekay LNG, Samsung C&T and Gulf Investment Corporation to build an LNG terminal in the country.
The project, awarded by the Oil and Gas Holding Company through an international tender, will be developed on a build, own, operate, transfer basis, a statement by Teekay LNG reveals.
It will be owned and operated through a joint venture, the Bahrain LNG, formed by Nogaholding and Teekay with a 30 percent stake and Samsung and GIC with a 20 percent stake each.
The LNG receiving and regasification terminal will have a production capacity of 800 million cubic feet of gas per day and will comprise a Floating Storage Unit (FSU), an offshore LNG receiving jetty and breakwater, an adjacent regasification platform, subsea gas pipelines from the platform to shore, an onshore gas receiving facility, and an onshore nitrogen production facility, the statement reveals.
The project will be owned and operated under a twenty-year agreement commencing on 15 July 2018.
Teekay LNG will provide the FSU which will be modified to fit the project that will be on a 20-year time charter deal with the JV.
GS Engineering & Construction has been selected as the EPC contractor for the project.
LNG World News Staff