Golar LNG Signs Nigeria LNG Contract

Golar LNG last week announced that it has been awarded two time charters by Nigeria LNG Ltd (NLNG) to employ the recently delivered Golar Frost and Golar Crystal.

Employment of both vessels under these contracts will commence in January 2015 and will continue for a duration of approximately 12 months for each vessel, Golar said.

NLNG has elected to retire earlier than planned three of its smaller and less efficient LNG carriers and to replace these with Golar's more modern and technically advanced ships, while NLNG awaits the delivery of its own recently ordered new vessels.

Golar's CEO Doug Arnell commented, "Golar is delighted to be selected by NLNG for these charters. This new business opportunity provides the clearest possible demonstration of the significant benefits available from the vessels delivered under Golar's existing new-building program. Significant reduction in boil-off and a material improvement in fuel efficiency have contributed to the decision to replace the older vessels with Golar's new buildings".