Golar In CSG LNG Deal  

Posted by Big Gav in , , , , , ,

The Australian reports that Golar has signed a deal to buy gas from the first of the 5 coal seam gas LNG plants planned for Gladstone - Gas deal for Golar as Shell loses out

NORWEGIAN LNG shipper Golar has signed the first offtake agreement for liquefied natural gas produced from coal seam gas. Golar agreed to take a 40 per cent stake in LNG Ltd's $US500million ($779million) Gladstone LNG plant and buy all its product.

As revealed in The Australian in December, Golar has edged out energy giant Shell, which had been widely expected to take LNG produced from the plant after last year buying into Arrow Energy's CSG reserves. Arrow has a non-binding agreement to supply LNG Ltd's plant and the option to take a 20per cent stake.

LNG and Golar are planning the first and smallest of five CSG-to-LNG plants at Gladstone and plan to be in production in late 2012, back from an earlier target of 2011.

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