Bahrain Awards Contracts for LNG Imports Complex
Press release - Bahrain's Oil and Gas Authority (Nogaholding) has awarded a consortium of Teekay LNG Partners , South Korea's Samsung C&T and Gulf Investment Corp (GIC) a contract to develop a liquefied natural gas (LNGLF) (LNG) terminal in the kingdom.
The project, to be built in Bahrain's Hidd Industrial area, will have a capacity of 800 million standard cubic feet per day and will be owned and operated under a 20-year agreement starting July 15, 2018, according to an emailed statement.
The consortium will build a floating storage unit, an offshore jetty to receive LNG shipments, a breakwater, an adjacent re-gasification platform, subsea gas pipelines from the platform to shore, an onshore gas receiving facility and an onshore nitrogen production facility.
The statement did not give the project's value.
The project will be developed on a build, own, operate, transfer basis and will be owned and operated through a new joint venture, Bahrain LNG W.L.L..
Nogaholding and Teekay will each own 30 percent of the venture while Samsung and GIC will each hold 20 percent.
The consortium also chose South Korea's GS Engineering & Construction as the engineering, procurement and construction contractor of the project, the statement said.
Teekay LNG will supply the floating storage unit vessel through a 20-year timecharter.
(Reporting by Reem Shamseddine)
