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Bahrain focuses on spot LNG for new FSRU

Bahrain's FSRU is likely to come online before other import facilities, and will therefore benefit from lower spot prices before it seeks out longer-term deals Bahrain's FSRU is likely to come online before other import facilities, and will therefore benefit from lower spot prices before it seeks out longer-term deals.
By Verity Ratcliffe 5 June 2018 Middle East & Africa / LNG 0 31152
Seef district in Bahrain. (abcdz2000/Flickr)

Nogaholding, the company responsible for sourcing LNG for Bahrain’s forthcoming FSRU, has said it plans to buy volumes on a spot basis for 2-3 years before seeking out longer-term supply partners.

The approach makes economic sense given the project is likely to come online before other import developments and thus benefit from low prices.

The new import facility, the vessel for which has been built in South Korea by GS Engineering and Construction, is scheduled for completion in early 2019, with startup to follow soon after.

A Nogaholding...