FLNG Gimi sailing to work

Industry Discussions Shipping News
1

Yesterday (11/19/23) FLNG Gimi set sail for offshore Mauritania

Given Golar originally suggested start date was Q4 2023, it seems the sail schedule (60 days) will mean the start date is in Q1 2024. That might explain why there was an arbitration discussion going on with BP.

Even if FLNG Gimi did arrive in Q4 2023, I was not expecting any meaningful revenue contribution from the asset. It would still have been a plus if the vessel arrived on time. Then, Golar would likely have had a full qtr of production (or close to it) for Q1 2024.

3 Likes
2

11/21
Per the Q3 earnings call, … uh oh! While the sail-away is a positive, additional events not as positive. Once FLNG Gimi hooks up, there will be a validation period prior to COD (Commercial Operations Date) – up to 6 months!!! Golar are working to shorten the time-frame to COD, but a 6 month validation (even with some compensation), was not in my expectations. There was another positive for Golar, but I will have that in a separate thread