TMC will manufacture and deliver seven large Smart Air compressors to be installed on the FLNG Gimi which is currently in Singapore where it is undergoing conversion from a Moss liquefied natural gas (LNG) carrier to an FLNG unit.
The joint venture will focus on managing the construction and operations of Arctic ice-class LNG carriers ensuring the optimized transportation from Novatek’s future LNG projects in the Russian Arctic region, including the Arctic LNG 2 project.
The LNG plant will consist of three liquefaction trains with an overall production capacity of 19.8 million tons per annum. The launch of LNG train 1 is scheduled for 2023, with LNG trains 2 and 3 to be launched in 2024 and 2026, respectively.
In spite of low gas prices due to ample LNG supply growth and muted demand so far in 2019 spot shipping rates have gradually increased over the last few months and are currently about USD 70,000 per day on average.
Cheniere and Bechtel have now declared substantial completion on seven liquefaction trains at the Corpus Christi liquefaction project and the Sabine Pass liquefaction project ahead of each train’s guaranteed completion date and within project budgets