Keppel Shipyard Ltd (Keppel Shipyard), a wholly-owned subsidiary of Keppel Offshore & Marine Ltd, has signed a conditional contract with Golar Hilli Corporation, a subsidiary of Golar LNG, to perform the world's first-of-its-type conversion of an existing Moss LNG carrier, the Hilli, into a Floating Liquefaction Vessel (FLNGV), the company said in its press release.
This contract will become effective upon the fulfilment of several conditions precedent, including the receipt by Keppel Shipyard of the initial milestone payment.