PAE has contracted a vessel to export LNG from 2027

PAE has contracted a vessel to export LNG from 2027
PAE has contracted a vessel to export LNG from 2027

“This strategic initiative is based on a strong commercial foundation, including: a PAE gas sales agreement for the supply of gas; and a FLNG charter agreement with Golar that includes a base rate and commodity exposure to LNG sales prices,” Golar said in a statement.

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The project aims to utilise Golar’s ​​Hilli FLNG unit, with a nameplate capacity of 2.45 million tonnes per annum (mtpa), offering a net equivalent rate of USD 2.6/mmBtu (based on 90% capacity utilisation) with an additional product-linked price element. Golar has the flexibility to consider an exchange alternative for another suitable Golar FLNG unit.

Partners in a PAE company

As part of the agreements, The company will have a 10% stake in Southern Energy SA, a joint venture with PAE, responsible for the purchase of national natural gas, operations and sale and marketing of LNG volumes from Argentina.

This initiative is expected to be the first phase of a potential multi-vessel project and is anticipated to be joined by other major Argentine natural gas producers.

Golar CEO, Karl Fredrik StauboGolar said: “We are excited to partner with Pan American Energy, one of Latin America’s leading energy companies. The project will provide an international outlet for Argentina’s vast and attractive natural gas reserves, creating value for Argentina and its shareholders in the gas sector. The project expands Golar’s ​​global presence and provides it with further growth potential.”

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Golar LNG is a NASDAQ-listed maritime LNG infrastructure company headquartered in Bermuda. Over its 75-year history, the company has pioneered maritime LNG infrastructure, including the world’s first floating LNG liquefaction terminal (FLNG) and floating storage and regasification unit (FSRU) projects based on the conversion of existing LNG carriers.

The company owns the world’s largest fleet of FLNG units by annual liquefaction capacity, with a market-leading operating track record.

 
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