Malaysian offshore oil and gas services provider Bumi Armada has won a $300m contract from ElectroGas Malta (EGM) to provide a floating storage unit (FSU) in Delimara, Malta.
Bumi’s subsidiary Armada Floating Gas Storage Malta (AFG Storage) will convert and supply the unit, while another subsidiary, Armada Floating Gas Services Malta (AFG Services), will be responsible for the operations and maintenance of the FSU.
The company said that AFG Storage has identified an LNG carrier for conversion, and its acquisition is currently being finalised.
The FSU will be part of a liquefied natural gas (LNG) receiving terminal in Malta.
The contracts are for a period of 18 years and two months, with the FSU expected to start operations in Delimara next year.
EGM is a joint venture company formed by Siemens’ subsidiary Siemens Project Ventures with a 20% stake, Gasol with 30%, GEM Holdings with 30% and Socar Trading with a 20% stake.
The consortium was awarded a contract by Malta’s national electricity company Enemalta Corporation to build an LNG-to-power project in the country.
The contract includes provision of an FSU to be docked in Delimara, and the regasification of an initial 55-60mmscf/d of gas from LNG deliveries to Malta.
The regasified LNG will be supplied to Enemalta’s existing 149MW power plant, and also to a new 200MW power plant to be built, owned and operated by Electrogas.
Image: Gasol owns a 30% stake in ElectroGas Malta. Photo: courtesy of Gasol plc.