Saipem secures offshore LNG contract

OLT Offshore LNG Toscana has awarded Saipem a contract to deliver a floating, storage, and regasification unit (FSRU).

Offshore staff

MILAN -- OLT Offshore LNG Toscana has awarded Saipem a contract to deliver a floating, storage, and regasification unit (FSRU). The LNG terminal will be installed about 20 km (12.4 mi) off the coast of Tuscany, Italy.

The $600-million contract includes conversion of the Golar Frost gas carrier ship into an FSRU. Offshore installation and commissioning activities are scheduled for competition within three years.

The vessel will have a storage capacity of 137,000 cm/yr (4,838,109 cf/yr) of LNG.

03/10/2008

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