Keppel, Golar in FLNGV vessel talks

Keppel will convert an LNG carrier into what they say will be the first FLNGV vessel.

Keppel Shipyard Ltd (Keppel Shipyard), a wholly-owned subsidiary of Keppel Offshore & Marine Ltd, has signed a conditional contract with Golar Hilli Corporation, a subsidiary of Golar LNG, to perform the world’s first-of-its-type conversion of an existing Moss LNG carrier, the Hilli, into a Floating Liquefaction Vessel (FLNGV).

This contract will become effective upon the fulfilment of several conditions precedent, including the receipt by Keppel Shipyard of the initial milestone payment.

“We will make a further announcement when the contract becomes effective,” Keppel said in a statement.

Golar LNG Limited yesterday announced the pricing of its registered offering of 11,000,000 shares of its common stock, par value $1.00 per share, at a price to the public of $54.00 per share.

The proceeds will be used fund initial milestone payments under the conditional agreement with Keppel Shipyard Limited in connection with the conversion of the LNG carrier, the Hilli.