Golar LNG has authorised a fourth floating LNG (FLNG) unit, ordering a 3.5 million tonnes per annum (mtpa) MKII vessel from China's CIMC Raffles for delivery by the end of 2029, according to Splash247. The project, carrying a price tag of around $2.45bn, will lift the Nasdaq-listed company's controlled liquefaction capacity by 41% to more than 12 mtpa.
CIMC Raffles order and MKII design
The newbuild is the second MKII FLNG contracted at the yard. Splash247 reported that the first 3.5 mtpa MKII unit is currently under conversion at the same facility using the former 148,500 cubic metre LNG carrier Fuji LNG. That $2.2bn project is scheduled for delivery in the fourth quarter of 2027, before starting a 20-year charter with Southern Energy off Argentina in the second half of 2028. The $2.45bn investment for the fourth unit is higher than the $2.2bn earmarked for the Fuji LNG conversion, according to Splash247.
| Project | Capacity | Investment | Timeframe / Charter |
|---|---|---|---|
| Fourth MKII FLNG (new order) | 3.5 mtpa | ~$2.45bn | Delivery by end-2029 |
| First MKII FLNG (Fuji LNG conversion) | 3.5 mtpa | ~$2.2bn | Delivery Q4 2027; 20-year charter with Southern Energy off Argentina from H2 2028 |
| Gimi FLNG | — | — | 20-year charter with bp at Greater Tortue Ahmeyim off Mauritania and Senegal, started last year |
| Hilli FLNG | — | — | Relocating from Cameroon to Argentina after Seatrium Singapore upgrade; another 20-year contract |
Existing floaters and charter commitments
Golar already operates two FLNGs, according to Splash247. Gimi began a 20-year charter with bp at the Greater Tortue Ahmeyim development off Mauritania and Senegal last year. Hilli is currently moving from Cameroon to Argentina via life-extension and upgrade work at Seatrium in Singapore ahead of another 20-year contract.
The latest investment further concentrates Golar around floating liquefaction, according to Splash247.
Exit from LNG carrier shipping
In early 2025, Golar sold its last LNG carrier, the Golar Arctic, for $24m, ending a 50-year presence in LNG shipping, Splash247 reported. The sale, combined with the new FLNG order, cements the company's strategic pivot from vessel ownership to floating liquefaction contracting.
Planning timeline for LNG logistics
Key dates reported by Splash247:
- Q4 2027 – Delivery of the first MKII FLNG (Fuji LNG conversion)
- H2 2028 – Start of the 20-year charter with Southern Energy off Argentina
- End-2029 – Delivery of the newly ordered fourth MKII FLNG
The order will lift Golar's controlled liquefaction capacity to more than 12 mtpa, a 41% increase, according to Splash247. Both MKII units are rated at 3.5 mtpa each, and all four FLNGs — Gimi, Hilli, and the two MKII units — are or will be tied to 20-year charters, providing a long planning horizon for LNG offtake and carrier scheduling in Argentina, West Africa, and Cameroon.
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