Bahrain Takes Delivery of LNG Terminal
Shipowner Teekay LNG’s first floating storage unit (FSU) has been successfully delivered to charterer Bahrain LNG, the former said October 1.
Teekay's wholly-owned LNG carrier, Bahrain Spirit, was delivered from the yard at the end of August, before starting its charter September 19 2018. It is expected to start commercial operations in early 2019, on schedule, as the country's first LNG receiving and regasification terminal.
The Bahrain LNG project was formed late 2015. In addition to Teekay LNG Partners which owns a 30% stake in it, Bahrain state-owned National Oil and Gas Authority (30%), Gulf Investment Corporation, GIC (24%), and Samsung C&T (16%) are also partners.
Bahrain produced 17bn m3 last year from its main gas reservoir, according to the IEA Gas 2018 report, published in the middle of this year, none of which was exported.
It needs more. The same IEA report, but published in mid-2017, said that the capacity of the Bahrain Spirit once it starts up early 2019 would be 8.2bn m3/yr.
In April 2018 Bahrain announced a large offshore tight oil and gas find, provisionally estimated at 300-600bn m3 below Bahrain’s main gas reservoir that might be produced in/after 2023.