The lapsed contract is not expected to affect Seatrium's FY2024 financial performance.

Seatrium's contract for the conversion of the moss-type Liquefied Natural Gas (LNG) vessel Golar Gandria has lapsed.

The contract was awarded to Seatrium in July 2015 by Golar LNG. Following Golar LNG's sale of the 1977-built Golar Gandria for demolition in 2023, Seatrium and Golar LNG have decided to let the third conversion contract lapse on 16 December 2024.

Seatrium has not commenced any physical work on the vessel.

The first two floating liquefaction vessels delivered by Seatrium to Golar LNG are Hilli Episeyo and Golar Gimi FLNG, which were deployed in the Kribi gas field and the Greater Tortue Ahmeyim field, respectively.

In a bourse filing, Seatrium said that the lapsed contract is not expected to have any material financial impact on their financial performance for FY2024.