Petrobras terminates Golar Spirit FSRU charter early

Golar LNG Partners said that it has received notice of early termination of the Golar Spirit FSRU charter contract from Petrobras. 

The charter end date has been moved from August 2018 initially to June 21, 2017, Golar LNG Partners said in its statement.

In accordance with the terms of the charter, Petrobras will pay to the Partnership a compensation fee as a result of the early termination representing approximately 62 percent of the EBITDA remaining under the contract from June 21, 2017 to the original contract end date.

The Partnership added it will immediately commence re-marketing the vessel for FSRU employment post June 2017.

“There is currently significant interest and bidding activity in the FSRU market and also a limited number of FSRUs available for the next two years. Golar Spirit, as a relatively small capacity FSRU could be well suited for a number of emerging smaller scale FSRU projects as well as a potential bridging solution for larger projects,” the statement reads.

Golar Spirit FSRU, currently deployed at Petrobras’ Pecem LNG terminal, has a regasification capacity of around 2.5 billion cubic meters per year and a storage capacity of 129,000 cubic meters.

LNG World News Staff