India’s Swan Energy has announced that subsidiary Triumph Offshore has executed a shipbuilding contract with Hyundai Heavy Industries for the construction of a floating storage and regasification unit (FSRU).
The FSRU, which has a storage capacity of 180,000 cu m, will serve Swan Energy’s floating LNG terminal project in at Jafrabad, Gujarat.
The project is the first floating LNG terminal project in India, which Swan Energy is now developing in a joint venture with Exmar. Swan Energy holds a 51% stake in the project, Exmar owns a 38% stake while the remaining 11% stake is owned by Gujarat State Petroleum Corp.
The terminal, which will have a capacity of 5m tonnes per year of LNG, is expected to be operational in early 2020.
