JUNE 26, 2018

Global LNG Services advances its Main Pass Energy Hub™ LNG Export Project and selects Baker Hughes, a GE Company, for rotating equipment

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Global LNG Services (GLS) makes significant progress for the Main Pass Energy Hub™ (MPEH) Deepwater Port project, owned by its US subsidiary MPEH LLC and located 16 miles offshore southeast Louisiana in the Gulf of Mexico. Two LIQUI-MAX™ vessels, capable of producing a total of 24 million tonnes per annum of LNG, will be permanently stationed at MPEH.

GLS’ patented LIQUI-MAX™ Vessel design uses all industry standard equipment in a unique configuration, allowing expanded throughput, and results in an unprecedented capex below $400 per tonne of annual liquefaction capacity. GLS’ patented cost advantage enables it to introduce a floating tolling fee model with a floor rate of Henry Hub + 15% +$1.50/MMBtu for pre-processing and liquefaction – and 50/50 sharing of the liquefaction netback value above the $1.50 level.

Gas will be sourced through interstate pipelines and pre-processed onshore in the Louisiana, Mississippi, and Alabama region.

Baker Hughes – a GE Company (BHGE) was selected by GLS for both its technology and extensive experience in LNG equipment and services. The LM9000 gas turbine leverages scale to provide effective LNG solutions, thanks to its higher power output on a smaller footprint, its best-in-class efficiency and the latest Dry Low Emission (DLE) technology. The LM9000 development, led by BHGE, is the latest of a proven legacy of building robust gas turbines from world-class aircraft engines.

“We are pleased that the LM9000 has been selected by GLS for their project and we are confident that this gas turbine, developed leveraging on 30 years of experience in LNG, will serve a next generation of floating LNG plants” said Rod Christie, President and CEO, Turbomachinery & Process Solutions, BHGE.

“GLS’ vision is to work collaboratively with the best players in the LNG space to develop lower cost liquefaction solutions for coastal areas. The choice of BHGE technology reflects these goals to supply LNG to the global market at the optimum cost and highest safety and environmental performance” said Paul L. Eckbo, Chairman and CEO of GLS.

GLS was established in 2013, and its ambition is to develop, own, and operate clean, safe and cost efficient floating liquefaction vessels. GLS acquired MPEH LLC and the MPEH project from Freeport McMoRan Energy LLC in 2016. MPEH was previously permitted by the Maritime Administration (MARAD) as an LNG import facility and is ideally located in the Gulf of Mexico allowing efficient marine vessel access to the facility.

Contact person:

GLS – Eric H. Namtvedt – Executive VP

Email: ehnamtvedt@gls-ltd.com
US contact #: +1 281 381 2781
Norwegian contact #: + 47 9488 9399