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LNG World Shipping

FLNG conversion moves ahead for BP LNG project

Wed 17 Apr 2019 by John Snyder

FLNG conversion moves ahead for BP LNG project
World's first FLNG vessel Hilli Episeyo was converted by Keppel for Golar LNG

Bermuda-based Golar LNG’s subsidiary Gimi MS Corporation has secured US$700M in financing to convert the floating LNG (FLNG) vessel Gimi, which will support the BP Tortue project off West Africa starting in 2022.

When commissioned, Gimi will be located nearshore on the Mauritania and Senegal maritime border and is expected to begin production in 2022 as part of the first phase of the Greater Tortue Ahmeyim project. Gimi will be designed to produce approximately 2.5 mta of LNG under a 20-year contract for BP.

The conversion finance was arranged by Clifford Capital Pte, ING Bank, Natixis and ABN Amro Bank.

Gimi MS Corporation is 70% owned by Golar LNG and 30% by First FLNG Holdings Pte, an indirect subsidiary of Singapore’s Keppel Corporation Limited held through Keppel Capital Holdings Pte.  

Singapore’s Keppel Shipyard, a subsidiary of Keppel Offshore & Marine, will convert a 125,000-m3 LNG carrier with a Moss-type cargo containment system into the FLNG Gimi. The shipyard will supply design, detailed engineering and procurement of the marine systems, as well as conversion-related construction services. Delivery of the vessel is expected in H1 2022.

The project will be similar to Keppel’s conversion of the world’s first FLNG vessel, Hilli Episeyo, which was delivered to Golar LNG for work offshore Kribi, Cameroon.

“Leveraging our engineering, execution expertise and LNG capabilities, we are able to partner customers in developing innovative and fit-for-purpose solutions to meet the needs of the market,” said Keppel O&M chief executive Chris Ong.

Golar LNG chief executive Iain Ross added, “Golar looks forward to working closely with Keppel on another Mark I FLNG and has a high degree of confidence in Keppel’s ability to safely deliver Gimi on time and within budget.” 

US-based Black & Veatch will work with Keppel Shipyard on the Gimi FLNG project. Black & Veach previously partnered with Keppel for the conversion of the Hilli Episeyo, providing design, procurement and commissioning support services for the topsides. Liquefaction of the natural gas will be handled by Black & Veatch’s Prico technology, which uses a single-mixed refrigerant loop.

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