What Crew Members Say About Italis-Lng

In a significant step towards energy independence, the 'Golar Tundra', a liquefied natural gas (LNG) carrier acquired by Snam, docked in Piombino on the night of March 20, 2023. The vessel is set to commence full operations by late April or early May, providing approximately five billion cubic meters of gas annually—roughly one-sixth of the natural gas previously imported from Russia. This strategic initiative, part of the Mario Draghi administration's energy diversification plan, aims to reduce Italy's reliance on methane imports through transnational pipelines from Russia and Azerbaijan. Despite facing criticism from some Piombino residents and environmental advocates, the project is deemed essential for enhancing Italy's energy self-sufficiency and is expected to lead to lower energy bills for households, alongside a more sustainable energy supply. By mid-May, Italy's regasification capacity is projected to reach levels that will virtually end its reliance on Russian gas. The 'Golar Tundra' boasts a substantial storage capability of around 170,000 cubic meters of LNG and an impressive regasification capacity of 5,000 million cubic meters per year. Previously, Italy sourced 90% of its gas imports, with a significant 40% coming from Russia. However, Russia's status as Italy's primary gas supplier has now been eclipsed by Algeria, a nation connected to Italy via an undersea gas pipeline that traverses the Mediterranean to Sicily.

Cheniere Energy Inc has proudly inaugurated its state-of-the-art $15 billion LNG export facility in Corpus Christi, Texas, marking a significant milestone in the U.S. liquefied natural gas sector. As the facility successfully produced its inaugural batch of LNG on Wednesday, the company has yet to announce the exact departure date for the initial cargo. Currently docked at the plant is the LNG Golar Tundra, a vessel poised to transport this first shipment, according to industry analysts. The grand opening ceremony featured notable figures such as Cheniere’s President and CEO Jack Fusco, Texas Governor Greg Abbott, and U.S. Secretary of Commerce Wilbur Ross, alongside numerous local officials. This facility signifies the third major LNG export terminal to come online in the contiguous United States, bolstering the country’s position in the global energy landscape.

In a significant transaction, Golar LNG Limited has announced the execution of a purchase agreement to sell its floating storage and regasification unit (FSRU), the Golar Tundra, to Golar LNG Partners LP. The sale is valued at $330 million, as disclosed in the company’s recent press release. Following the closure of this deal, the Partnership will secure a daily fee along with operating expenses, amounting to nearly $2.6 million monthly, for Golar's right to utilize the FSRU from the closing date until the vessel begins operations under its time charter with West Africa Gas Limited. Concurrently, the Partnership will forward any hire income received for the Golar Tundra during this interim period to Golar. The transaction is anticipated to finalize in March 2016, and operations under the time charter with West Africa Gas Limited are set to commence by the close of the second quarter of 2016.