Snam and Golar LNG sign agreement for an FSRU

The contract, for a total consideration of €269 million, includes the vessel and the CAPEX for Golar to convert the Golar Arctic into an FSRU with storage capacity for up to 140 000 m³. Further to the full conversion of the vessel, the FSRU will be sold to the Snam Group.

Start of activities for the conversion of the ship into an FSRU and related fulfilments are subject to Snam’s issuance of a notice to proceed (NTP) and further to that the conversion is expected to take approximately two years for the Golar Arctic to be delivered.