Seatrium - UOB Kay Hian 2023-09-11: Positive Vibes From A Tour Of An FLNG Vessel

• Our recent tour to Seatrium and Golar’s floating liquefied natural gas (FLNG) project showed that there continues to be a high level of interest in such vessels from an energy supply and financing standpoint. The imminent completion of this complex vessel underscores Seatrium’s ability to safely and successfully deliver a quality project, which is key to maintaining its competitive edge in winning new orders.
• - Read this at SGinvestors.io -

Another quality project will be safely delivered.

• We recently had the fortune to visit Golar LNG’s newest floating liquefied natural gas (FLNG) vessel Golar Gimi at Seatrium (SGX:S51)’s (formerly Keppel’s) Benoi yard. The vessel was previously an LNG carrier but through extensive works carried out here in Singapore, it has now been converted into a four-train FLNG vessel capable of processing 2.7mtpa.
• - Read this at SGinvestors.io -
• industry participants viewing the LNG landscape as being the key growth area in energy in the next decade;
• Seatrium’s very clear emphasis on safety, which we believe adds to the company’s overall appeal as a constructor of choice for its multinational clients – the Gimi project completed 37mil man hours of work with no lost-time incidents (or >4,200 years of work); and
• immense complexity of the project which involved the addition of 1,500km of new cables and 44,000 tonnes of steel to the original LNG vessel.

Other background information on Gimi.

• Read more at SGinvestors.io.

Adrian LOH UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-09-11 SGinvestors.io

---