Teekay swaps LNG carrier newbuilding for an FSU

Teekay swaps LNG carrier newbuilding for an FSU

Teekay LNG Partners has changed one of its orders for an LNG carrier to a floating storage unit (FSU) at Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea.

The shipyard did not reveal a price for the contract upgrade in its filing today, but said the alteration related to an LNG carrier ordered in February 2015.

Data from VesselsValue.com says the unit, known as Hull 2461, has cargo capacity of 173,400 cbm and is due for delivery in 2018.

In December, a consortium led by Teekay LNG Partners, Samsung C&T and Gulf Investment Corporation signed project agreements with the Bahraini government to develop an LNG receiving and regasification terminal in the country.

Teekay will deploy an FSU, likely to be the one being built at DSME, on a 20-year timecharter at the import terminal. When operations commence in July 2018, the terminal will have throughput capacity of 800m cubic feet per day and will be owned and operated by a new joint-venture company, Bahrain LNG WLL, in which Teekay LNG Partners has a 30% stake.

Teekay LNG Partners has 14 other LNG carriers of around 173,000 cbm under construction at DSME, six of which were jointly ordered with China Shipping LNG to export LNG cargoes from the Yamal LNG Project in north-east Russia.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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