Golar LNG Limited and Seatrium Limited have entered into a Letter of Intent (LOI) to advance a third Floating Liquefied Natural Gas (FLNG) conversion project, according to LNG Prime. The collaboration builds on the successful delivery of two previously converted FLNG vessels, FLNG Hilli Episeyo and FLNG Gimi. Under the arrangement, Seatrium will work with Golar to advance technical design development and project definition activities, aiming for a finalized Engineering, Procurement, and Construction (EPC) contract in the second half of 2026. An upfront consideration supports Seatrium's pre-EPC contract execution activities.
Marlin Khiew, Executive Vice President of Seatrium Energy (Projects), highlighted that leveraging experience from previous projects will help enhance standardization and cost-effectiveness through a series-build approach. Morten Skjong, Chief Technical Officer at Golar LNG Limited, expressed excitement about continuing their long-standing partnership to develop further FLNG projects.
Technical Background
The project is significant as it involves the conversion of an existing LNG carrier into an operational Floating Liquefied Natural Gas (FLNG) vessel. Currently, only two such vessels—the FLNG Hilli Episeyo and FLNG Gimi—are in operation worldwide, making this a noteworthy expansion for both companies. The new vessel will be designed to improve execution certainty, speed to market, and cost-effectiveness based on lessons learned from previous projects.
The LOI between Seatrium and Golar is part of the ongoing efforts in the maritime industry to optimize existing LNG carrier infrastructure for more flexible and dynamic energy solutions. Such conversions are seen as a pragmatic approach to tapping into new natural gas reserves without the high costs associated with building new purpose-built FLNG vessels.