Built to inform

Sign up for the daily newsletters

No, Thank you

Bahrain LNG Import Terminal to commence operations in H2 2019

NYSE-listed Teekay LNG Partners, which owns 30% in the development, says project to drive financial growth in 2019-20

Bahrain's LNG terminal will start-up in 2019.
Teekay
Bahrain's LNG terminal will start-up in 2019.

The start-up of the Bahrain liquefied natural gas (LNG) terminal and four other LNG carrier buildings – a significant oil and gas project in the GCC – is expected to kick off in H2 2019, according to New York Stock Exchange-listed and Bermuda-headquartered Teekay LNG Partners, which owns 30% of the terminal, alongside the National Oil and Gas Authority (Noga) of Bahrain; Samsung Construction and Trading; and Gulf Investment Corporation.

Commenting on the project in the firm’s Q1 2019 financial statements, chief executive officer of Teekay Gas Group, Mark Kremin, said: “We anticipate [the projects] will continue to drive further growth in total adjusted Ebitda throughout the rest of 2019 and into 2020.

"Despite the near-term weakness in the spot LNG carrier market since the start of the year, we have recently been able to take advantage of the improving medium-term fundamentals by securing multiple attractive charters on our LNG carriers for periods ranging from one to three years."

Belgium-headquartered engineering company Besix has previously completed the design and construction of an of an LNG jetty on drilled and grouted pin piles, with a maximum length of 55m. at the Bahrain LNG Import Terminal.

Most popular

Awards

New category open for consultancies at CW Awards 2019 in Dubai
Sub-Consultancy of the Year to be crowned for the first time at the gala ceremony

Conferences

Leaders UAE 2019: Pinsent Masons confirmed as Gold Sponsor
Law firm is among the major construction industry players confirmed as sponsors for Leaders UAE's
Leaders in Construction UAE Summit returns in Sept 2019
Dubai conference to see top officials discuss the people, trends, and challenges that will power

Latest Issue

Construction Week - Issue 747
Aug 03, 2019