Golar LNG Energy Wins Tender for West Java FSRU Project (Indonesia)

The Board of Golar LNG Energy Limited (“Golar Energy” or the “Company”) is pleased to announce that it has been selected as the successful bidder in the PT Nusantara Regas tender for the West Java Floating Storage Regasification Terminal (“West Java FSRU Project”).

Nusantara Regas is a joint venture between Pertamina and PGN. The contract, which is still subject to final terms and conditions, will be for an initial period of approximately 11 years and comprises the lease of a floating storage and regasification unit (“FSRU”) and associated mooring. Golar Energy will convert one of their existing Moss LNG carriers to an FSRU for the project.

The contract value will be approximately $500 million. The Golar group has already completed three FSRU conversions over the last three years.

The FSRU for the West Java FSRU Project will be similar in design to the latest of these three projects, the Golar Freeze, recently delivered to Dubai. The West Java FSRU Project will be Indonesia’s first LNG regasifcation terminal and represent the world’s first FSRU project in Asia.

Golar Energy’s FSRU technology offers a reliable and cost effective solution to fast track the import and regasification of LNG. Golar Energy’s CEO, Oscar Spieler said “This award cements our position as the leading converter of existing LNG carriers for FSRU service and a major player in the growing market for marine based LNG infrastructure.

The Golar group has been doing business in Indonesia for almost thirty years and we are very pleased to be selected by Nusantara Regas for this critical national energy project.”

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Source: Golar LNG, October 12, 2010