Singapore, March 2008:  Cables International was delighted to be selected by Keppel Shipyard in Singapore to supply all cables for the world’s first LNG Floating Storage and Regassification Unit (FSRU).

Cables International worked closely on this fast-track project with Keppel Shipyard personnel supplying cables on a just in time basis ex-stock and manufactured tailor-made specific to project requirements.

Golar LNG Limited signed a contract with Keppel Shipyard Limited of Singapore for the first ever conversion of an existing LNG carrier into a LNG Floating Storage and Regasification Unit (FSRU). Moss Maritime of Norway (a Saipem company) prepared the conceptual specification for the FSRU and carried out the design and engineering.

Golar LNG worked in partnership with Keppel Shipyard in engineering, procurement and construction for the project. The scope of work included installation of new forward turret, side-by-side mooring system, LNG loading arms, aft thruster with compartment, a regasification plant and replacement of cargo pumps. There was also upgrading of the existing steam power electrical and marine systems.

Last year Golar LNG announce it has been awarded two time charters by Petrobras to employ Golar Winter and Golar Spirit as floating LNG storage and regasification vessels ("FSRU"). Employment of Golar Spirit under this contract will commence during Q2 2008, Golar Winter will commence during Q2 2009. Both vessels will be modified to permit regasification of LNG prior to delivery to Petrobras. The contract duration for both vessels is 10 years with an option for Petrobras to extend for a further 5 years. The estimated contract value (excluding the option period) is approximately US$860 million.