Excelerate Energy on Monday confirmed it had landed a Petrobras contract for a mammoth floating production, storage and regasifaction unit (FRSU).
The VT3 vessel, which the company claims will be the world’s largest, will have a capacity of 173,400 cubic meters and be able to deliver 20 million cubic meters per day of natural gas. The contract value was not disclosed.
"We are extremely pleased with the selection of Excelerate Energy to provide this industry-leading vessel, and we are confident that with our experience and expertise in floating regasification that we will provide a high standard of service to justify the confidence that Petrobras has placed in us," chief executive Rob Bryngelson said in a statement.
Excelerate said it had also nabbed a 15-year contract to operate FRSU services for Petrobras in Brazil’s south-east region.
Petrobras is said to have insisted on a mid-2013 start date for the vessel, a deadline the bidders reportedly had difficulty meeting.
While the newest vessel is not expected to start work until May 2014, Excelerate said it will upgrade and dedicate another of its FRS vessels, the Exquisite, to serve the area in the meantime.
Daewoo Shipbuilding & Marine Engineering of South Korea, which has built eight other such vessels for the company, will also build the newest LNG-FSRU worth around $280m.