I.M. Skaugen chartered its three Multigas carriers for a small-scale LNG project in Africa planned to deliver natural gas for power generation.
Time charter contracts are for two 10,000-cbm vessels and one 12,000-cbm vessel, according to IMSK statement.
In addition to the charter agreements, the company will provide shuttle/feeder services, floating storage support, as well as storage and offloading of LNG with a client sponsored by two existing gas-fired power plants in Africa, that have been idling due to the lack of gas supply.
In addition, I.M. Skaugen has been requested to perform the complete project management of this ‘virtual pipeline’ to be established, encompassing the entire supply chain from the sourcing of LNG supply to the delivery of gas to the power plants.
Start-up of the contract is planned for in late March or early April 2017 with the company arranging delivery of the first LNG.
The contract, however, is subject to governmental approvals and the financial close of the project.