Golar Power to provide FSRU for Croatia’s 1st LNG import project

LNG Croatia, the state-owned company that is developing the country’s first LNG facility on the island of Krk, has chosen Golar Power to provide a floating storage and regasification unit (FSRU) for the import project.

Golar Power is a 50/50 joint venture formed by LNG carrier and FSRU owner Golar LNG and private equity firm Stonepeak Infrastructure Partners.

LNG Croatia said in a statement on Friday it has chosen Golar Power after receiving three bids in the procurement procedure for the FSRU. The other two bids were from Mitsui O.S.K. Lines and Maran Gas Maritime.

Golar Power will convert the 2005-built Golar Viking liquefied natural gas carrier to an FSRU and provide it to LNG Croatia for about 159.6 million euros ($180.8m), LNG Croatia said.

The FSRU will have a storage capacity of 140,000-cbm, with a nominal LNG regasification capacity of 300,000-cbm of natural gas per hour, giving a yearly capacity of 2.6 billion cubic meters of gas, it said.

Depending on the outcome of the previously announced open season for the terminal’s capacity, which will close on December 20 and adoption of a positive investment decision, delivery window for the FSRU is expected in the period from September 30 to October 30, 2020.

The LNG terminal is expected to be fully operational by January 1, 2021.

LNG Croatia said that the deadline for objections on this decision to choose Golar Power’s solution is November 15.

After this, the state-owned company plans to sign the FSRU delivery contract and operation and maintenance contract.