Bumi Armada Berhad said that its Malta units have entered into agreements with ElectroGas Malta for the conversion, supply and operations and maintenance of one floating storage unit.
The FSU will be supplied for the project relating to the construction and operation of an LNG receiving terminal located at Delimara, Malta. The effective date of the contracts is 13 April 2015, the company said in a filing to the stock exchange.
The contracts are for a firm period of eighteen years and two months, with an estimated aggregate value of approximately USD300 million.
The FSU is expected to commence operations in the Delimara, Malta in 2016.
AFG Storage has identified an LNG carrier which has been approved by EGM, as the conversion vessel for this project. The acquisition of the LNG carrier is currently being finalised.
EGM has been awarded contracts by Enemalta Corporation for the supply and delivery of natural gas and electricity to Enemalta’s facilities located at Delimara.
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Image: MEPA