Floating LNG Conversion Job Slips Out of Seatrium’s Hands

Golar LNG has decided to call off the floating liquefied natural gas (FLNG) vessel conversion job with Seatrium, following the sale of a Moss type liquefied natural gas (LNG) carrier Golar Gandria for demolition.

The first two floating liquefaction vessels delivered by Seatrium to Golar LNG are Hilli Episeyo deployed in the Kribi gas field located offshore Cameroon, and Golar Gimi FLNG deployed in the Greater Tortue Ahmeyim field located offshore Mauritania and Senegal.

Following Golar LNG’s sale of the 1977-built Golar Gandria for demolition in 2023, Seatrium and Golar LNG have decided to let the third conversion contract lapse on December 16, 2024, Seatirum informed.

As at the date of the announcement, Seatrium did not begin any physical work on the vessel.

The decision to call of the conversion job is not expected to have any material financial impact on the earnings per share and net tangible asset per share of Seatrium for the current financial year, according to Seatrium.

“The demand for sustainable gas solutions remains healthy, underpinned by the energy transition. With a strong 60-year track record and product expertise, Seatrium is wellpositioned along the gas value chain to support the development of offshore energy assets. The Group remains committed to providing efficient and sustainable offshore and energy solutions,” Seatrium said in a statement.