LNG

The southwest African nation of Angola, a liquefied natural gas exporter to nations such as India and China, has signed an accord with an American company to set up LNG import facilities as part of a gas-to-power project.

Golar LNG Partners, the US affiliate of the Bermuda-based fleet owner, swung to a first-quarter loss as it commissioned the “Golar Freeze” offshore Jamaica to serve as an import facility amid a drop of day-rate prices because of high volumes and low season demand.

Golar LNG Partners, the fleet owner listed on the Nasdaq global exchange, said the shipping market continued to improve in October and one of its carriers re-entered the spot market and completed multiple voyages.

The two Golar LNG shipping companies see intense competition for fixtures in the charter market while there is growing interest in the import sector for floating storage and regasification units (FSRUs) for small-scale and medium-scale projects.

July 13 (LNGJ) - Golar LNG Partners, the Nasdaq-listed US unit of the Norwegian fleet owner, said it had agreed certain amendments with the Dubai Supply Authority for the charter of the “Golar Freeze” floating storage and regasification unit deployed at Jebel Ali Port in the United Arab Emirates until May 2020. Dubai has two FSRUs on contract and does not currently fully use the “Golar Freeze”. Consequently, the charter has been shortened by a year until April 2019. “The operating cost element of the charter will be reduced to a nominal amount from November 2017 and Golar will similarly save operating costs from putting the vessel into lay-up pending new employment,” said Golar.