Bahrain LNG Import Terminal will start operating in H2 2019

Bahrain LNG Import Terminal will start operating in H2 2019
Published: 27 May 2019 - 4:15 a.m.
The start-up of the Bahrain liquefied natural gas (LNG) terminal and four other LNG carrier buildings – a significant oil and gas project in the GCC – is expected to kick off in H2 2019, according to New York Stock Exchange-listed and Bermuda-headquartered Teekay LNG Partners, which owns 30% of the terminal, alongside the National Oil and Gas Authority (Noga) of Bahrain; Samsung Construction and Trading; and Gulf Investment Corporation.

Commenting on the project in the firm’s Q1 2019 financial statements, chief executive officer of Teekay Gas Group, Mark Kremin, said: “We anticipate [the projects] will continue to drive further growth in total adjusted Ebitda throughout the rest of 2019 and into 2020.

"Despite the near-term weakness in the spot LNG carrier market since the start of the year, we have recently been able to take advantage of the improving medium-term fundamentals by securing multiple attractive charters on our LNG carriers for periods ranging from one to three years."

Belgium-headquartered engineering company Besix has previously completed the design and construction of an of an LNG jetty on drilled and grouted pin piles, with a maximum length of 55m. at the Bahrain LNG Import Terminal.

This article originally appeared on Construction Week Online

Click here to add your comment

Please add your comment below
Name
Country
Email
Your email address will not be published
Captcha