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Floating Storage and Regasification Unit (FSRU)
26 January 2011
Oscar Spieler, Chief Executive Officer
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Golar Group Overview
A leading independent LNG midstream company;
35+ years experience in LNG sector.
Bermudan corporate headquarters with offices withbranch offices in Oslo, Singapore, and Tulsa.
Fleet of 13 vessels (10 LNGCs and 3 FSRUs).
Developed worlds first FSRU based on the
conversion of an existing LNGC.
The group is split between two companies: GolarLNG (GLNG) and Golar LNG Energy (GOL).
25+ year history in Indonesia and committed togrow: Golar Spirit; Golar Mazo; West Java FSRUdevelopment.
Golar Spirit Arun III
Golar Mazo- On 18 Yr. Charter to Pertamina
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Key Components of an FSRU
Source: Golar LNG Energ
Regasificationtrains transforming LNGat -160 Celsius to gas at high pressure
Seawater pumps forpumping seawater to
regas trains in order toheat up the LNG
Loading arms for receiving LNGStorage Tanks
Export Manifold
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Example Regasification Process
METERING
LNG
VAPORISERS
Propanesystem
STEAM
BOILERS
GAS
COMPRESSOR
FUELGAS
Regasification Trains 3 off:
GAS
HEATER
BOOSTER
PUMPS
2 OFF
CNG
LNG
SHU
TTLE
TAN
KER Golar FSRU
LNG
SUCTION
DRUM
METERING
HIPPS
T/G
CNG Trim
Heaters
Sea Water System
3x SW pumps
3x Back wash filters
FWD Machinery Space
MSO
Compressor
C
USTOME
REl Power
LNG
LNG
VAPOUR
IN-
TANK
PUMPS
Source: Golar LNG Energy
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Some Detail Behind an FSRU Design
2 x 50% Booster pumps
1 off LNG vaporizer
2x100% Trim heaters
Propane Loop
Seawater cooling system
Turbo Generators
Freshwater cooling system
Firewater Pump
Electrical equipment room
Regasification Train (3 Units) Forward Machinery Space Refit
Source: Golar LNG Energy
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FSRU Market Rationale
(MMtpa)
0.0
50.0
100.0
150.0
200.0
250.0
300.0
2000A 2005A 2010E 2015E
OECD Non-OECD
LNG Demand OECD vs. Non-OECD Countries
Source: Wood Mackenzie
Demand for LNG in developing countries driving new FSRU projects
FSRUs a more cost-effective way to meet lowdemand or to grow into LNG than traditionalland based terminal
Can be relocated if demand is not sustainableover the long-term
Reduced permitting challenges
Reduced financing requirement; no need tobuild storage tank(s)
Quicker to develop than and cost competitivewith land-based facilities
For suppliers low-cost option to access newmarkets
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FSRU Market Rationale
1976 Built / 129,000 m3
Moss Containment 2.5 bcm / year Near Shore (Existing Pier) Over jetty LNG transfer HP arms on pier Closed Loop
1st Conversion Golar Spirit (Brazil) 2 MTA
Petrobras- VT1
Petrobras- VT2
Gulf Gateway
Northeast GatewayNeptune Project
Bahia Blanca
Teesside
Livorno
Dubai
Mejillones
Kuwait
Locations where further projects have been proposed
Other Industry Operational / Committed
Golar Operational / Committed
West Java
First FSRUProject in Asia
Escobar
Ten floating storage and/or regasification projects are currently operational, three have
been formally sanctioned, and many more have been proposed.
Source: Golar LNG Energy
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Strong GDP growthdriving gas demand inpower and non-powersectors
Source: Wood Mackenzie
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020
mmcfd
West Java Contracted & Committed Total West Java Demand
West Java urgently requires sources of gas and the FSRU is low cost and can be rapidlydeployed versus other alternatives.
A Fast Track Solution to Address A Urgent Need
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Keys to Successful FSRU Projects
Source: Golar LNG/ Energy / Picture copyright Petrobras
Golar Spirit FSRUThe worlds 1stFSRU conversion
The Gas Offtaker
Commitment underpins project; Willingness to pay international LNG prices
Full Chain Project Development Capability
LNG Sourcing + FSRU + Downstream Infrastructure + Gas Sales
Siting of Vessel
Infrastructure requirements / Environmental conditions
Project Functional Requirements Definition
Regas Rate / Vaporization / Storage / Availability / Permitting / Emissions
A Clear Mandate / Strong Support Base
Clear project drivers / Support of government and/or strong energy partner
DEFINITIONSITING
PROJECTDEVELOPMENT
CAPABILITY
GASOFFTAKER(S) SUPPORT
PROJECTDEVELOPMENT
CAPABILITY
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Designed Specific to Project Requirements
Golar Spirit FSRU Golar Winter FSRU Golar Freeze FSRU
Operational Operational Operational
1981 Built / 129,000 m3
Moss Containment
2.5 bcm / year
Near Shore (Existing Pier)
Over jetty LNG transfer
HP arms on pier
Closed Loop
2004 Built- 138,000 m3
Membrane Containment
5.1 bcm / year
Near Shore (New Pier)
Over jetty LNG transfer
HP arms on pier
Open / Closed Loop
1976 Built 125,000 m3
Moss Containment
4.9 bcm / year
Near Shore (New Pier)
Side by side LNG transfer
HP arms on pier
Open Loop
Khannur
1977 Built / 125,000 m3
Moss Containment
5.0 bcm / year
Offshore
Side by Side LNG transfer
Gas manifold
Open Loop
Conversion Pending
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Key Components
1977 Built / 125,000 m3
Moss Containment
5.0 bcm / year
Offshore
Side by Side LNG transfer
Open Loop
4th FSRU - Khannur (West Java)
1977 Built / 125,000 m3
Moss Containment
5.0 bcm / year
Offshore
Side by Side LNG transfer
Open Loop
Golars 4th FSRU - Khannur (West Java)
Source: Golar LNG Energy
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West Java FSRU Project Highlights
First FSRU in Asia
First LNG import terminal in Indonesia
Charter with Nusantara Regas
60% Pertamina / 40% PGN
Conversion scope ~ to Golar Freeze FSRU
Contract Term - Approximately 11 Years
Contract Value - $500M USD
15 km offshore Muara Karang, Jakarta Bay
Golar Khannur FSRU
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Complex Execution Partner(s) are Key
Source: Golar LNG Energy
RegasificationTrains
Suction Drum
Diesel Driven Fire pump
Turbo
Generators
SeawaterPumps
Seawater Discharge
High Integrity ProtectivePressure System (HIPPS)
Metering
Nitrogen GensAir System Upgrade
Low Voltage SwitchboardHV/LV Transformerin Engine Room
Vent K.O. Drum(not visible)
Vent Mast
Minimum Send OutCompressor
High VoltageSwitchboard
Loading Arms
Mooring Hooks
Chain Stoppers
Intank pumps
Export Manifold
Source: Golar LNG Energy
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