I.M. Skaugen has announced that it has signed long-term contracts for the time charter of three multi gas vessels.
The ten-year contracts are for two 10,000 cbm and one 12,000 cbm multigas vessels, and valued at around $420m in total. The charterer was not disclosed.
The contracts are for a project representing a proof of concept of I.M. Skaugen’s small scale LNG logistics solutions (SSLNG) – providing natural gas for power generation.
The company will provide shuttle/feeder services, floating storage support, as well as storage and offloading of LNG with a client sponsored by two existing gas fired power plants in Africa.
In addition, Skaugen has been requested to perform the complete project management of the “virtual pipeline” to be established, encompassing the entire supply chain from the sourcing of LNG supply to the delivery of gas to the power plants. The contract is planned for commencement in late March or early April 2017.