FIRST GEN Corp. said on Wednesday that BW Gas Ltd. in Norway had agreed, prior to a similar agreement with another local corporation, on the supply of a liquefied natural gas (LNG) vessel to the Lopez-led business unit.
BW Gas also made a pledge in November last year to supply a subsidiary to the floating Storage and Regasification Facility.
A few days after the Department of Energy (DoE) authorized the application for Vires Energy Corp. to continue with its proposed gas fired factory, which is combined with an LNG storage and regasification facility, the first clarification of Gen was provided to the stock exchange.
The FSRU, based on a Sunday DoE media release, is expected to have a storage capacity of about 162400 meters.
“BW Paris” was the vessel said by First Gen to have been contracted with its FGEN LNG Corp. unit since November.
First Gen said that, on 3 November 2020, “the BW Gas has already given a FGEN LNG commitment in which it is decided to ensure and procure that no other body has been conditionally or unconditionally contracts with the proprietor of BW Paris (BW FSRU IV Pte. Ltd.).
It stated that it was committed to make sure that FGEN LNG charters BW Paris would fulfill the standards and timetables in the “up to and including” of its project on April 7th.
First Gen said BW Gas receives informal inquiries from many companies, including Vires Energy, about BW Paris before the undertaking is undertaken. It says that “the nature of those investigations has never gone past the screening.”
First Gen has said that the vessel can reload LNG in trucks and small-scale LGB vessels to deliver gas to nearby areas. The vessel can also provide auxiliary facilities, storage, regasification and other services.
FGEN LNG and BW FSRU IV signed a five-year Charter Deal for BW Paris as FSRU for the previous offshore LNG interim project earlier in this month.
In a previous disclosure, A Brown Co., Inc. which owns Vires Energy, said that it was “currently in discussions with BW Paris when it first submitted its application with the DoE for a notice to proceed.”
“However, the talks with BW failed to bring in a fruitful conclusion. Therefore, the [Vires Energy] opportunities and/or agreements on other prospective vessels are still under consideration,” said A Brown in a Tuesday statement.
Vires Energy said it is planning to launch commercially its integrated LNG project by January 2023.