Golar LNG has signed an engineering, procurement and construction (EPC) agreement with Yantai CIMC Raffles Offshore for its fourth floating liquefaction natural gas (FLNG) production vessel, at a total budget of around $2.45bn.
Delivery of the vessel to its intended site is anticipated by the end of 2029.
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The new vessel will be Golar LNG’s second to use the MKII design and is planned to provide an annual liquefaction capacity of 3.5 million tonnes (mt) of LNG.
The agreement follows the company’s efforts through the year to secure necessary equipment and delivery slots, which Golar LNG says has supported the targeted delivery timeline.
A vessel for conversion into the floating LNG facility has already been acquired for the project.
This fourth floating LNG unit is scheduled to be completed at the CIMC Raffles shipyard, where Golar LNG’s FLNG Esperanza, another MKII design vessel, is currently under construction.
The company expects to gain efficiencies from repeating the design and constructing both vessels at the same yard, leading to operational synergies.
As part of the contract, Black & Veatch will contribute its PRICO liquefaction technology and provide detailed engineering and process design services.
The company will also specify and procure topside equipment and support commissioning of the topsides and liquefaction process for the new vessel.
Golar LNG stated that with the addition of this new MKII FLNG, its total controlled liquefaction capacity will increase by about 40% to above 12 million tonnes per annum (mtpa).
The company is pursuing a long-term charter contract for the unit and notes that advanced commercial negotiations for its future employment are underway.
Golar LNG CEO Karl Fredrik Staubo said: “We are pleased to announce the ordering of Golar’s 4th FLNG unit, and our second MKII FLNG with nameplate liquefaction capacity of 3.5mtpa.
“We believe this FLNG order, combining the world’s earliest available FLNG delivery and Golar’s market leading operational track record, is well positioned to provide prospective clients with an attractive gas monetisation solution, whilst driving value for Golar.
“We look forward to expanding our relationship with partners CIMC Raffles and Black & Veatch towards another successful FLNG project.”
In March 2026, Golar LNG began a formal strategic review to examine options that advance its FLNG expansion and maximise shareholder value.
