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January 5, 2015updated 10 Mar 2022 2:03pm

Keppel finalises $705m second Golar LNG carrier conversion deal

Keppel Offshore & Marine's (O&M) subsidiary Keppel Shipyard has finalised a $705m deal with Golar Gimi to convert a second Moss liquefied natural gas (LNG) carrier, the GIMI, into a floating liquefaction vessel (FLNGV).

Keppel Offshore & Marine’s (O&M) subsidiary Keppel Shipyard has finalised a $705m deal with Golar Gimi to convert a second Moss liquefied natural gas (LNG) carrier, the GIMI, into a floating liquefaction vessel (FLNGV).

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The deal marks the exercise of the first of two options, which were part of an earlier firm contract awarded by Golar to Keppel Shipyard for the conversion of another Moss LNG carrier, the HILLI, into an FLNGV.

Keppel O&M Marine and Technology managing director Michael Chia said: “This second contract comes just six months after the first contract and we are encouraged by this positive development.

“FLNGV conversion solutions are indeed the answer to a need to bring small and mid-scale liquefied natural gas supplies to market.”

“We, together with Golar LNG and our partner Black & Veatch, are confident that FLNGV conversion solutions are indeed the answer to a need to bring small and mid-scale liquefied natural gas supplies to market in a more timely and cost-efficient manner.”

The project will start after receipt of the notice to proceed and will take around 33 months to complete. The notice is expected to be issued by November, when Keppel Shipyard will begin undertaking full construction activities of the GIMI.

Orders for long-lead primary equipment such as gas turbines and cold boxes will be placed soon.

Under the contract, Keppel will provide the design, detailed engineering and procurement of the marine systems and all of the conversion-related construction services.

Keppel Shipyard will collaborate with Black & Veatch to deploy the latter’s PRICO technology for the liquefaction process.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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