Golar and CIMC raffles sign major EPC contract for MK II FLNG

In a significant development for the offshore energy industry, Golar LNG Limited, a global leader in floating liquefied natural gas (FLNG) solutions, has signed an EPC (Engineering, Procurement, and Construction) contract with CIMC Raffles for the construction of an MK II FLNG. The contract marks a major step forward for Golar in expanding its presence in the global FLNG market, with the new MK II unit boasting an annual production capacity of 3.5 million tons of liquefied natural gas (MTPA).

Under the agreement, Black & Veatch, a renowned engineering company, will provide its advanced PRICO® liquefaction technology for the project. The company will be responsible for detailed engineering, process design, procurement of the topside equipment, and commissioning support of the liquefaction facilities. This continues Black & Veatch’s role in supporting Golar’s existing assets, FLNG Hilli and FLNG Gimi, and enhances the design and operational efficiency of the MK II compared to its predecessors.

FLNG

The EPC contract, valued at $1.6 billion, is part of a larger $2.2 billion project budget for the MK II FLNG, which includes the conversion of an LNG carrier, shipyard supervision, spare parts, crew training, contingency costs, and initial fuel supply. The MK II FLNG is expected to be delivered in Q4 2027, with an option for a second unit scheduled for delivery in 2028.

Golar CEO Karl Fredrik Staubo emphasized the importance of the partnership, stating, “The ordering of the MK II FLNG is a significant milestone in our collaboration with CIMC Raffles and Black & Veatch. With a competitive delivery cost of approximately $600 per ton of liquefaction capacity and a targeted delivery in Q4 2027, we are confident this project will provide our clients with a strong market entry opportunity and help them achieve their gas monetization goals, while also creating long-term value for Golar.”

Wang Jianzhong, CEO of CIMC Raffles, added, “This collaboration further solidifies CIMC’s leadership in high-end offshore engineering, demonstrating our capability to execute complex projects. We remain committed to the independent development of advanced offshore equipment and providing innovative solutions for the global energy market.”

Laszlo von Lazar, President of Black & Veatch’s Fuel and Natural Resources division, praised the project, stating, “We are excited to work with Golar and CIMC Raffles on the MK II FLNG project. This collaboration not only extends our technical leadership in floating LNG but also reaffirms our commitment to supporting the global energy transition.”

This EPC contract represents a new chapter in Golar and CIMC Raffles’ partnership and signals a new phase of innovation and efficiency in the global FLNG market.

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