Gaz de France (1020848.FR) said Thursday it has signed with Hoegh LNG AS a Joint Development Agreement related to the design, the construction supervision and the operation of a Floating Storage and Regasification Unit (FSRU-vessel).
Thanks to this partnership, the most up to date technology will be brought to the Triton project, an offshore LNG project developed by Gaz de France in the Adriatic Sea, about 30 km off the Mar.e region shore, in Italy.
The LNG storage capacity of the FSRU-vessel will be about 170,000 cu.m and the base load regasification capacity will be 5 billion cu.m. and could double through the addition of a second FSRU-vessel.
The FSRU vessel will be leased from Gaz de France to an equally owned Joint Venture created by Gaz de France and Hoegh LNG; and Hoegh LNG will be missioned by this joint venture to operate this vessel.
The studies related to the permitting and development of Triton LNG project are already well advanced. Final Investment Decision are expected by end 2009 with first LNG deliveries before end 2012.