Tor Olav Trøim’s Golar LNG has sealed a deal with Italian energy company Snam to supply floating storage and regasification unit (FSRU) for an energy supply project in the port area of Portovesme, on the island of Sardinia.
Under a €269m ($283m) contract, Golar LNG will convert the 2003-built LNG carrier Golar Arctic into an FSRU with a storage capacity of up to 140,000 cu m.
The conversion is expected to take about two years, with activities subject to Snam’s issuance of a notice to proceed.
Golar has been exploring conversion, sale, or charter alternatives for its remaining steam turbine vessel. The company said that following the full conversion of the vessel, the FSRU will be sold to the Snam Group.