Golar LNG has started negotiations for a third FLNG conversion, as it inks a 20-year contract for its second GoFLNG vessel Gimi.

Golar LNG said it had started negotiations with its partners Keppel Shipyard and Black & Veatch with an aim of exercising a third option. A third conversion would be delivered in 2018 with a similar contract basis to the first two vessels.

"Progress with our projects in Cameroon and Equatorial Guinea provides evidence of the technical and commercial competitiveness of GoFLNG, and customer recognition of the benefits of the shorter lead-time and lower risk implementation inherent to our approach,"said Frank Chapman, chairman of Golar LNG. Meanwhile the company has signed a binding heads of terms Ophir Energy for a 20-year contract in Equatorial Guinea for its second GoFLNG vessel the Gimi. The contract which starts in 2019 is expected to deliver and EBITDA of around $350m in its full year of operation.