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Gas-Starved Europe Is About to Get a Pair of Floating LNG Units

  • Italy and Finland will receive floating import terminals
  • Excelerate signs letter with Hyundai for new LNG import ship
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Europe's Energy Crisis Explained

At least two floating liquefied natural gas terminals are heading for Europe in the next several months as the region clamors to replace supplies cut off after Russia’s invasion of Ukraine.

Golar LNG Ltd. is converting an LNG tanker into a floating terminal that’s expected to start importing gas off the west coast of Italy in the first half of next year, the company said Thursday in a presentation. The vessel was sold to Italy’s gas network operator, Snam SpA, in May. Another Golar tanker is in the process of being converted.