Final Investment Decision for MK II 3.5mtpa FLNG

Core Viewpoint - Golar LNG Limited has signed an Engineering, Procurement and Construction (EPC) agreement with CIMC Raffles for a MK II Floating LNG Production vessel, which will have an annual liquefaction capacity of 3.5 million tons of LNG per annum (MTPA) [1][2]. Group 1: Project Details - The MK II design is an evolution of the MK I design and will convert an existing LNG carrier, Fuji LNG, with a storage capacity of 148,500 m³ [2]. - The total EPC price for the MK II FLNG conversion is US$1.6 billion, with a total budget of US$ 2.2 billion, which includes various costs such as yard supervision and initial bunker supply [2]. - Golar has already spent US$0.3 billion on the project, with engineering and long lead items now 63$ 0.5 billion of adjusted annual EBITDA, before commodity exposure [4]. Group 3: Strategic Importance - The new MK II FLNG order increases Golar's controlled liquefaction capacity by about 70% to 8.6 MTPA [5]. - The project reflects Golar's commitment to providing timely solutions for gas monetization and enhancing its market position as a leading owner of FLNGs [5]. Group 4: Collaboration and Expertise - Golar, CIMC, and Black & Veatch have invested significant man-hours optimizing the conversion process and de-risking project execution [3]. - Black & Veatch's PRICO® technology will be utilized in the project, marking their sixth floating LNG project to reach a final investment decision [5].