Keppel to pursue more work in floating LNG market

Keppel to pursue more work in floating LNG market

Keppel informed that its Offshore & Marine unit is looking to turn more of its attention to the floating LNG market. 

Keppel posted an overall net profit of S$397 million in the second quarter, down 2% compared to the S$406 million in the same quarter in 2014. However, the company posted a 2% rise in first half profit reaching S$757 million compared to S$745 million in the same period the previous year.

Year-to-date 2015, Keppel Offshore & Marine secured $1.5 billion worth of new contracts. Keppel Shipyard signed a US$684 million contract with Golar for an FLNG conversion, which is the third for such won by Keppel.

Keppel Offshore & Marine has a net orderbook year to date which stands at $11.0 billion, the company revealed in the report.

The global FLNG industry is expected to attract more than US$65 billion of investments from now through to 2020, driven by rising costs of onshore LNG terminals. Asia-Pacific, in particular, is expected to draw a majority of investments in the FLNG sector with its sizeable line-up of regasification and liquefaction projects.

Keppel O&M said it will pursue potential partnerships with customers in niche markets such as floating LNG.

1 Singapore Dollar = 0.729474 USD

LNG World News Staff; Image: Keppel

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