Golar LNG Partners, DUSUP amend Dubai FSRU deal

Nasdaq-listed Golar LNG Partners, a limited partnership formed by Golar LNG, has agreed to amend a charter deal it has with Dubai Supply Authority for the Golar Freeze FSRU.

DUSUP has two floating storage and regasification units on contract and does not currently have full time use for Golar Freeze.

The two companies have been working together to find alternative employment for the FSRU but in the meantime they have agreed certain amendments to the existing charter that was due to end in May 2020.

The duo has agreed to shorten the charter by one year and to remove DUSUP’s termination for convenience rights and extension option rights which ran to 2024.

Golar Partners said it will receive the right to terminate its obligations under the charter whilst continuing to receive the capital element of the charter until the end of the new charter period in April 2019.

“The operating cost element of the charter will be reduced to a nominal amount from November 2017 and Golar Partners will similarly save operating costs from putting the vessel into layup pending new employment,” it said.

Golar Partners noted in the statement that it sees several opportunities for employment of smaller scale FSRU’s like Golar Freeze and Golar Spirit which have “significantly lower capital cost than newbuild FSRU’s.”

“This arrangement gives both parties more certainty and enables Golar Partners to re-market the vessel with the clear knowledge of her long term availability from 2018,” it added.


Share this article

Follow LNG World News


<< Aug 2019 >>
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

FLNG World Congress 2019

2019 FLNG World Congress will bring together stakeholders across the floating liquefaction value…

read more >